Klarna | FinTelegram News

Tag: Klarna

March 1, 2023

Interesting: Klarna CEO Received Pay Increase Despite Record Loss And Staff Cuts!

Swedish Klarna has posted an eye-watering annual loss for 2022. The annual losses exploded to SEK10.4 billion ($1 billion), up from SEK7.1 billion ($680 million) in 2021. However but the Swedish buy now, pay later company raised its CEO’s pay by more than a third. Net losses narrowed in the fourth quarter to SKr1.9 billion from SKr4.6 billion a year earlier. Credit losses were SKr1.4 billion in the three months, an improvement of 18% in the same period in 2021.

February 15, 2023

UK Plans To Regulate “Quicksand Sector” Buy-Now-Pay-Later!

The UK plans to regulate Buy-Now-Pay-Later (BNPL) sector, saying it poses potential harm to consumers without thorough affordability checks. Providers such as Klarna, Clearpay, and PayPal will be required to give consumers key information about their loans and issue affordable credit. At the same time, users will have the right to take complaints to the Financial Ombudsman Service. The sector nearly quadrupled during the pandemic in 2020 to 2.7 billion pounds ($3.28 billion).

December 21, 2022

Payment Monitor: Payabl Facilitates Online Casinos Lucky Dreams And Bitdreams!

Payabl (formerly PowerCash21), a payment institution regulated in Cyprus by the Central Bank of Cyprus, was founded by former Wirecard executives Dietmar Knoechelmann and Ruediger Trautmann. Payabl is a high-risk payment processor specializing in the porn and gambling industries. Payabl is also a payment facilitator for the online casinos Lucky Dreams and Bitdreams. The payment agents are the Cyprus-based Friolion Limited and Libergos Limited, respectively.

October 26, 2022

Looking Into MGA-Regulated Shark77 And Some Money-Laundering Considerations!

FinTelegram has looked at both investment and trading providers and facilitating payment processors over the past few years. The latter are the most important element for the operation of B2C services. Customers need to be able to deposit and withdraw. Very often we have found violations of regulatory requirements and AML/CFT specifications. Going forward, we also want to take a look at gambling schemes from a payment perspective, starting with MGA-regulated Shark77 Limited.

September 23, 2022

Klarna’s Worsening Burn Rate Forces Additional Lay-Offs!

The Swedish buy-now-pay-later fintech Klarna is planning a second round of layoffs, four months after it cut 10% of its global workforce, Sifted reports. In a live video message sent to employees, the company’s Chief Operating and Expansion Officer, Camilla Giesecke (LinkedIn), announced that the organization needed to make further cuts “to reflect the more focused nature of today’s Klarna.” Klarna confirmed the new round of job cuts to Sifted and said fewer than 100 employees would be affected globally.

July 3, 2022

Post-Easy-Money Era: Crypto Winter, FinTech Ice Age, And The Collapsed Klarna Valuation!

In recent months, we have entered the "Post-Easy Money Era" with skyrocketing inflation rates and the resulting interest rate hikes. The Easy & Cheap Money policy, most recently driven by the Covid-19 pandemic, led to a macroeconomic valuation bubble across most asset classes that has now burst. Take the Swedish FinTech unicorn Klarna. Within one year, the valuation of $45.6 billion has collapsed by more than 80% to only $6.5 billion, at which the hopes to get $650 million from investors.

May 27, 2022

While The FinTech Sector Goes South, High-Risk Payment Processors Are Still Bullish!

If we were to look back in a year or two, we might find that the last week of May 2022 manifested the trend toward the entire tech sector's crisis, especially in the FinTech sector, which saw a C19 Pandemic-boosted hype before that. FinTech unicorns like Klarna or Bolt announced massive layoffs. Online payment pioneer PayPal as well. In contrast, the high-risk payment segment still seems to be booming. Alex Leigh, the co-founder of Total Processing, has made a job offer to the terminated Klarna people via a LinkedIn post.

FinTech Crisis

May 27, 2022

Bolt Financial Switches Into Crisis Mode And Fires 250 Employees!

Earlier this week, Swedish FinTech unicorn Klarna announced an austerity program and the layoff of 10% of its workforce. San Francisco-based Bolt Financial had to follow this path and lay off around a third of its workforce, or around 250 employees, to reach profitability with the money available. The Bolt layoffs came just months after investors valued FinTech at $11 billion. PayPal and other FinTechs also announced layoffs and hiring freezes. Evidently, the FinTech sector switches into crisis mode.

Fintech

May 24, 2022

FinTech Correction Or Economic Doom? Klarna’s Troubles And Mass Lay-Offs!

In 2021, the Swedish fintech Klarna was valued at around $46 billion making it the highest valued European FinTech. The buy-now-pay-later FinTech with more than 6,500 employees saw huge losses in 2021 and is confronted with reluctant investors, the Wall Street Journal reports. Sebastian Siemiatkowski, Klarna’s CEO and co-founder, announced a strict austerity program and the mass lay-off of 700 employees. The signs of a correction and crisis have been seen for weeks with falling prices of stocks and cryptos. We may be facing a valley of tears.

March 24, 2022

PGSELLERS – A high-jacked illegal payment processor or a made-up story?

Over the last few years, UK registered PGSELLERS has come to our attention as an illegal payment processor in several major broker scams. Scam victims were asked to deposit funds into PGSELLERS' accounts at Deutsche Handelsbank, Klarna, and other banks. A few days ago, the registered director and economic owner of PGSELLERS, Paul Solinsky, contacted us and claimed that the entity was hijacked by scammers and used as an illegal payment processor without his knowledge.

May 4, 2021

Investor Alert – Investors Center and Trading Academy 360 facilitate broker scams big style

Scams are facilitated by fraudulent marketing campaigns and malicious payment processors. Take the Triton Capital Markets broker, for example. The scam, allegedly operated by Karello D Buro LLC, registered in St. Vincent and the Grenadines, has been warned against by the Austrian Financial Market Authority (FMA) on February 18, 2021 (report here). However, it has been facilitated by Investors Center, Trading Academy 360, and Praxis Cashier. Here are a few more details.

April 1, 2021

Daily Affiliate Warning – FXOffers promoting IGM Holdings, HQ Trade broker und FinoCapital scams

Today we received another nice email from [email protected] In the email, we are once again presented with a link to FXOffers (www.fxoffers.cc) and its fraudulent Elite Trading Club campaign. A video still promises that you can earn more than €15,000 daily without risk on the campaign page. The campaign promises to make you a millionaire. Got it, stupid? All you have to do is register. Today, victims are being sought via this fraudulent campaign for broker scams IGM Holdings, HQ Trade, and FinoCapital. Do not be one of these victims.