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in Tech

Fintech firm Klarna halves net loss in first quarter as it races toward profitability

by Editor May 28, 2023, 11:58 pm 1.7k Views

Fintech firm Klarna halves net loss in first quarter as it races toward profitability

Sebastian Siemiatkowski, CEO of Klarna, speaking at a fintech event in London on Monday, April 4, 2022.

Chris Ratcliffe | Bloomberg via Getty Images

Klarna, the Swedish buy now, pay later fintech company, halved its net loss in the first quarter, recording a significant improvement in its bottom line after a major cost-cutting drive.

The company posted a net loss of 1.3 billion Swedish krona ($120.7 million), down 50% from the 2.6 billion krona…

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