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
- L.A. Fires Show Reality of 1.5°C of Warming
- How Canada Fell Out of Love With Trudeau
- Trump Is Treating the Globe Like a Monopoly Board
- Bad Bunny On Heartbreak and New Album
- 10 Boundaries Therapists Want You to Set in the New Year
- The Motivational Trick That Makes You Exercise Harder
- Nicole Kidman Is a Pure Pleasure to Watch in Babygirl
- Column: Jimmy Carter’s Global Legacy Was Moral Clarity
