Klarna launches "buy now, pay later" service in Spain

June 30 (Reuters) - Swedish online lender Klarna, one of Europe’s biggest fintech firm, is entering in Spain on Tuesday with its “buy now, pay later” service that allows shoppers to pay in interest-free installments at some retailers.

Under its “Pay in 3” offer, Klarna customers will be able to buy online and split their purchase into three equal payments, spread over 60 days.

The company, which has partnerships with merchants such as H&M, Sephora and Adidas, said it will go live with fashion brand Michael Kors in Spain at the end of July.

Founded in 2005, Klarna is currently valued here at $5.5 billion after raising $460 million in August from the likes of Dragoneer Investment Group and BlackRock.

It has been expanding rapidly across Europe and the United States, and the investment here resulted in a operating loss of 1.1 billion Swedish crowns ($113 million) in 2019. (Reporting by Supantha Mukherjee in Bengaluru; Editing by Simon Johnson)


Reuters Breakingviews is the world's leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time.

Sign up for a free trial of our full service at and follow us on Twitter @Breakingviews and at All opinions expressed are those of the authors.