Klarna, a Swedish BNPL provider, has announced the launch of Klarna Plus, a USD 7.99 monthly subscription plan that provides subscribers with waived service fees, double reward points, and exclusive discounts with retail partners like Nike and Instacart.
Klarna Plus will also enable subscribers to shop outside its network of 500,000 retailers such as Walmart, Target, Amazon, and Costco and avoid paying nearly USD 1 to USD 2 in transaction fees.
The company stated that introducing Klarna Plus as a new revenue stream is part of Klarna's strategy to diversify its offerings, stabilize recurring revenues, and sustain investor confidence with its core product offerings, especially as the company approaches a possible IPO, following a valuation drop in 2022.
Analyst QuickTake: The launch of Klarna Plus comes nearly two months after the company announced plans last year to incorporate a UK holding company for its 2024 IPO, valued at USD 15 million–20 million.
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