Klarna launches bank account in Germany

Klarna launches bank account in Germany

PR Newswire

BERLIN, Feb. 10, 2021

BERLIN, Feb. 10, 2021 /PRNewswire/ -- Klarna, the leading global payment and shopping service, is launching consumer bank accounts in Germany, with the aim to provide them with further control of their finances. The launch marks a first for the company and will allow customers to easily track, categorize and analyze all of their everyday spending using the Klarna app. A Klarna bank account will come with a Visa debit card which can also be connected to both Google Pay and Apple Pay. The offering will exclusively be made available to a limited number of Klarna's most loyal consumers to intensively collect and integrate feedback before gradually rolling out to all Klarna users in Germany in the coming months.  

With this new product, Klarna provides its consumers with a full Klarna end-to-end experience that puts consumers first: From shopping to keeping track, managing and predicting one's spendings, the Klarna app enables consumers to have all their finances in one place. In future, German consumers will also be able to set savings goals and benefit from Klarna's savings accounts product in the Klarna app, which was launched earlier this year in Sweden. 

Sebastian Siemiatkowski, CEO of Klarna said, "Our focus is to provide a superior shopping experience to our consumers at the intersection of retail and banking. And we know that there's still massive room for improvement to the way many people bank and save their money today. Users are demanding more seamless, intuitive and transparent services to meet their daily needs, but many banks still do not cater for this. We are very excited to introduce Klarna Banking today, bundling shopping and banking in one app and allowing our consumers to bank in the same seamless way as they shop with Klarna."  

Companies in the financial sector, especially traditional banks, have so far had to struggle with the changes brought about by digitization. According to current figures from the Deutsche Bundesbank, the number of bank branches has fallen back to the level of the 1950s. A study by Bitkom from 2019 shows that 7 out of 10 German citizens do their banking on the internet and that digital offers from their bank are more important than a well-known brand. This development shows an increasing change, which becomes manifest especially in the needs of the customers.  

The Klarna Bank Account at a glance

Opening a Klarna bank account can easily be done in the Klarna App. Customer service is available over the phone or in the Klarna App through a chat, and helps with all questions and concerns regarding the account.

About Klarna

We make shopping smooth. With Klarna, consumers can buy now and pay later, so they can get what they need today. Klarna's offering to consumers and retailers includes payments, social shopping and personal finances. Over 200,000 retail partners including H&M, IKEA, Expedia Group, Samsung, ASOS, Peloton, Abercrombie & Fitch, Nike and AliExpress, have enabled Klarna's innovative shopping experience online and in-store. Klarna is ranked number five on the 2020 CNBC Disruptor 50 list, and is one of the most highly valued private fintechs globally with a valuation of $10.65 billion. Klarna was founded in 2005, has over 3,500 employees and is active in 17 countries. Klarna has been backed by Sequoia Capital since 2010 and more recently, Dragoneer, Bestseller Group, Permira, Visa,  Atomico, Ant Group and Silver Lake, HMI Capital, TCV amongst others. For more information, visit klarna.com.


Filippa Bolz

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