Article by Caroline Soutarson, published on 31 August 2022
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Despite a 24% increase in half-year business volume (GMV) compared to the same period last year, Swedish fractional payment specialist Klarna posted a net loss of more than US$600 million, in the first half of 2022. This is four times more than a year earlier. These losses are mainly due to the fintech’s expenses to grow the US business, but also due to unfavourable market conditions, especially a rise in interest rates.