A few years ago, only a handful of online stores would have listed Klarna as a payment option. Today, the buy-now-pay-later company is a fixture alongside digital-payment titans like Mastercard—and itself a giant, valued at $45.6 billion. Over the past year, it has extended its reach to 45 countries, launched a physical Visa card in the U.S., and increased net operating income by 38% to $1.6 billion. The U.S. Consumer Financial Protection Bureau, however, is probing Klarna and similar firms over concerns about consumer debt; the company is cooperating.
A weekly newsletter featuring conversations with the world’s top CEOs, managers, and founders. Join the Leadership Brief.
More Must-Reads from TIME
- How the Electoral College Actually Works
- Your Vote Is Safe
- Mel Robbins Will Make You Do It
- Why Vinegar Is So Good for You
- The Surprising Health Benefits of Pain
- You Don’t Have to Dread the End of Daylight Saving
- The 20 Best Halloween TV Episodes of All Time
- Meet TIME's Newest Class of Next Generation Leaders
