Fintech PR
Klarna Q1-Q4 2020 Financial Report

Today, Klarna Bank AB (publ) (“Klarna”) publishes its Annual financial statement release for July – December 2020, and the full Q1-Q4 of 2020.
Our strong results for 2020 were driven by rapidly accelerating momentum in the US, entry into four new markets, and growing consumer and merchant preference for Klarna’s elevated shopping experience and strong brand. New product launches including savings accounts in Sweden, current accounts in Germany and Klarna’s Vibe loyalty program in the US and Australia enhanced consumer acquisition and retention, and drove adoption of the Klarna app to a record 18 million monthly global users(1).
Full year January to December 2020
Record gross merchandise volume with total net operating income breaking USD 1 billion
- Record Gross Merchandise Volume was achieved across the Klarna platform, up 46% to USD 53bn / SEK 484bn (2019: USD 35bn/SEK 332bn)(2) as Klarna continues to connect retailers with consumers for a superior shopping experience
- 40% increase in Total Net Operating Income to USD 1.087bn / SEK 10bn (2019: USD 753m / SEK 7.155bn), breaking the $1 billion threshold for the first time.
- Strong capital position with CET1 Ratio at 29.5% (2019: 28.1%)
- Credit losses as a percentage of gross merchandise volume have fallen across all major markets as consumers adopt the benefits of pay later, and our risk models continue to mature.
- Klarna is well positioned to capture global growth in the retail market and continues to invest significantly in new market entries and expanded product offerings on that basis. Net profit was lower in line with expectations as operating expenses increased to deliver ambitious expansion by building significant scale in the US and other major markets, and launching our pay later offering in four new markets: Australia, Belgium, Spain and Italy. Four further market launches are planned for 2021.
Growing retailer and consumer connections globally, through one platform in 17 markets
- 87 million global active consumers chose Klarna as the preferred platform to shop, pay and bank in 2020. Consumers’ demand for convenience, flexibility and products that serve them better continue to drive the global shift from credit to debit.
- With one platform and one recognisable brand in 17 markets, Klarna is now the global partner of choice for 250,000+ retailers.
- Klarna in-store is now live in 10 markets, enabling consumers to use Klarna everywhere while delivering a seamless multichannel experience for retailers. US consumers can now shop in over 60,000 physical stores, while in Australia, Klarna is available in any store through the app.
- As well as a superior online and in-store experience, Klarna makes new connections between consumers and retailers, and in December alone, Klarna delivered 22 million clicks to retailers in the US.
- We have also established a presence in China to support retail partners scaling to a global consumer base with Klarna.
Accelerated growth in the US
- Momentum in the US accelerated rapidly with a million consumers a month added during the key shopping period in Q4 2020, with 15 million consumers choosing to shop with Klarna by January 2021. Klarna is the partner of choice for 20 of the US top 100 retailers.
- At the close of Q4, Klarna was ranked in the Top 10 most downloaded shopping apps in US app stores for the entire period.
- Several renowned brands have joined Klarna’s US retail network, including Macy’s, Etsy, Sephora, Saks OFF 5TH, Lululemon, Bluemercury, Rebecca Minkoff and Pandora, bringing the total number of retail partners to more than 6,000.
Driving customer satisfaction in 2021 and beyond
- Consumer satisfaction is driving customer acquisition and retention, with US consumer NPS at 80+, well above financial services benchmark of +34(3).
- Vibe, the first loyalty program of its kind in our industry, is now live in the US and Australia, and rewards consumers who pay for their goods on time. The program gained immediate traction, attracting one million members during the first three months. Vibe will expand to further markets in 2021.
- The global platform KlarnaSense, encouraging more mindful shopping, has resonated strongly with consumers and will be launched across markets in 2021.
Sebastian Siemiatkoski, Klarna co-founder and CEO commented: “The last year has created unprecedented change in the global economy which has transformed how consumers bank, shop and pay. Klarna has adapted well, supporting retailers to move online at pace while continuing to provide consumers with superior shopping experiences and payment options that meet their evolving needs. 2020 has not slowed Klarna’s progress: we scaled to four new markets, broadened our platform to an integrated banking offering in Sweden and Germany, and truly accelerated our growth in the US, where we added 1 million new consumers per month in the last quarter.
“2021 is going to be another year of change as consumers will slowly return to stores expecting to see the flexibility they have become accustomed to reflected in the brick-and-mortar experience. Klarna will continue to innovate across channels, geographies and verticals to provide consumers with the transparency, control and flexibility they now demand from banking, shopping and payments, while supporting our partners in their growth ambitions.”
The full report is available at www.klarna.com.
For additional information, please contact:
Aoife Houlihan, VP of Communications
Phone: +46 (0) 72855 8047
Email: aoife.houlihan@klarna.com / press@klarna.com
(1) Global active monthly app users
(2) Klarna’s results are reported in SEK. To arrive at USD values, the average exchange rates for 2019 and 2020 have been used. 1USD equals approximately 9.5SEK for full year 2019 and 9.2 SEK for full year 2020.
(3) Retently, 2020
Fintech PR
BingX Joins NBX 2025 as a Gold Sponsor: Empowering Blockchain Innovation

PANAMA CITY, March 15, 2025 /PRNewswire/ — BingX, a global leading cryptocurrency exchange, is excited to announce its participation as a Gold Sponsor at the 5th edition of Next Block Expo (NBX), scheduled for March 19-20, 2025, at Multikino Złote Tarasy in Warsaw, Poland. As one of Europe’s premier Web3 events, NBX 2025 is expected to attract over 2,000 attendees, making it a key platform for blockchain innovation and collaboration.
NBX serves as a dynamic hub for industry leaders, startups, investors, and developers, fostering knowledge-sharing and networking opportunities to drive the future of blockchain. As a firm advocate for Web3 advancements, BingX will showcase its ongoing commitment to innovation through an interactive booth, featuring engaging activities, expert insights, and exclusive giveaways. Attendees will gain firsthand knowledge of how BingX supports high-potential blockchain projects with financial backing, technical expertise, and strategic growth consultations.
In addition to its sponsorship, Vivien Lin, Chief Product Officer of BingX, will be a key speaker at NBX 2025, contributing to discussions on strategic trading approaches, risk management, and the evolving landscape of blockchain investments. She will also deliver a keynote speech exploring BingX’s vision for blockchain innovation and how the company translates emerging technologies into real-world applications.
“At BingX, we believe that true innovation comes from bold ideas and strategic execution,” said Lin. “Sponsoring NBX 2025 is more than just a presence for us — it’s a commitment to fostering a thriving blockchain ecosystem. We are here to connect with visionaries, provide the resources they need, and help shape the future of decentralized technology. By empowering builders and innovators, we’re not just supporting projects — we are accelerating the evolution of Web3 itself.”
BingX’s participation at NBX 2025 underscores its long-term vision of driving blockchain innovation and supporting the next generation of industry leaders. As BingX continues to expand its global footprint, initiatives like this sponsorship reinforce its role as a catalyst for growth in crypto space. By engaging with emerging projects, thought leaders, and investors, BingX remains at the forefront of Web3 advancements, bridging the gap between groundbreaking ideas and real-world impact.
About BingX
Founded in 2018, BingX is a leading crypto exchange, serving over 20 million users worldwide. BingX offers diversified products and services, including spot, derivatives, copy trading, and asset management – all designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency. In 2024, BingX proudly became the official crypto exchange partner of Chelsea Football Club, marking an exciting debut in the world of sports.
For more information please visit: https://bingx.com/

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Fintech PR
Great Bay Insurance Group announces executive changes

WEST ATLANTIC CITY, N.J., March 14, 2025 /PRNewswire/ — The Great Bay Insurance Group (the “Group”), a leading provider of coastal homeowners’ insurance in New Jersey, today announced the following leadership changes. Timothy J. Byrne, Jr., has been named as President of the Group and Ronald R. Lovatt has been named President of Great Bay Insurance Company, a wholly owned affiliate of the Group.
Mr. Byrne Jr. has nearly 15 years of industry experience and previously served as the Group’s Chief Operating Officer overseeing the Groups operations and underwriting strategies.
Mr. Timothy J. Byrne, Sr., Chief Executive Officer of the Group, added, “I’m excited to announce the promotion of Tim Jr. to the role of President of The Great Bay Insurance Group and Ron to the role of President of Great Bay Insurance Company. Tim Jr. and Ron have been an integral part of the Group since its founding in 2019.”
As President, Tim Jr. will provide oversight for all corporate support functions and will continue to report to Tim Sr.
Mr. Byrne Jr. holds a BS in Economic and Mathematics from the University of Vermont, an MBA in Risk Management and Insurance from St. John’s University and holds a CPCU designation.
Mr. Lovatt has 40 years of broad insurance industry experience in leadership capacities with international, national, regional and start-up insurance companies. Ron is a founding member of The Great Bay Insurance Group, working with Tim Sr. & Tim Jr. to launch Great Bay in late 2019. Ron currently serves as Chief Underwriting Officer & Chief Claims Officer for The Great Bay Insurance Group, has an MBA from The Wharton School of the University of Pennsylvania, and a Bachelor of Science degree in Economics, Finance, Accounting & Marketing from Miami University.
Contact:
Investor Relations
Brian Schleider, CPA
Chief Financial Officer
609-434-2000, x102
brian.schleider@greatbayinsure.com
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Fintech PR
Forward Global responds to surge in UK shareholder activism with launch of UK Corporate Contests Practice

LONDON, March 14, 2025 /PRNewswire/ — International risk management firm Forward Global launched its UK Corporate Contests Practice on Tuesday in response to what is described as “all-time high of shareholder activism” in London and Paris.
Speaking ahead of the launch on Tuesday night, Brendan Foo, Partner and Global Head of Corporate Contests at Forward Global, said “As activism gains currency as an asset class, savvy investors are looking toward the UK and Europe to generate alpha. Indeed, in 2025 alone, we have seen an unprecedented demand for our services not just in our traditional strongholds of the US and Canada, but also in the UK and Europe. This reflects the surge in activist (and active) engagements, with which our team is uniquely well-placed to assist.”
Forward Global’s Corporate Contests Practice was established to meet demand from law firms, investors, and advisers to provide a comprehensive suite of services to support companies in high-stakes shareholder engagements. In keeping with the firm’s established activism practice in the US, the new London offering will deliver investigative and intelligence work such as vetting board nominees, relationship mapping, scrutinizing the track records of both incumbents and challengers, and conducting deep-dive reputation analyses. In Europe, Forward Global’s Patrice Lambert-de Diesbach offers clients battle-tested expertise in investor relations and financial communications.
Shareholder activism in the UK has expanded significantly, with campaigns becoming more frequent and sophisticated. In 2023, the number of new public activist campaigns in Europe surged by 68%, with the UK remaining a primary target. US-based activist investors have also increased their focus on UK firms, launching 40% of all UK activist campaigns in 2024. With contested boardroom battles and regulatory shifts on the rise, the expansion of Forward Global’s Corporate Contests practice into the UK is well-timed, equipping issuers with the intelligence and strategies needed to navigate this evolving landscape.
The firm launched the new practice at an exclusive gathering at the International Institute of Strategic Studies in London, bringing together leading voices from the shareholder activism space to discuss the evolving landscape of transatlantic shareholder activism.
The panel discussion, featuring Brendan Foo, Patrick J. McHugh of Okapi Partners, and Sebastian Fain of Freshfields, explored critical considerations for US investors entering the UK market and vice versa, differences in engagement styles across jurisdictions, and strategies for issuers to proactively engage with both activist and active investors. Panelists also examined the impact of anti-DEI and ESG sentiment on investor relations in the UK, as well as how issuers can adapt to evolving regulatory and institutional expectations.
John Watts, Managing Partner of Forward Global UK, added, “Forward Global’s new UK Corporate Contests Practice is designed to provide companies with the strategic intelligence and investigative depth needed to navigate an increasingly complex activist landscape. Our team is committed to equipping clients with the tools to engage proactively with investors, safeguard their strategic interests, and strengthen shareholder relations across Europe.”
Notes for Editors
Forward Global is an international group, with its historic headquarters in France, boasting five main offices in Paris, Brussels, London, Miami, and Washington. As a leading player in risk management with over 450 employees and 30 partners, Forward Global offers an integrated approach across the three major risks: digital, economic, and informational.
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