Klarna losses quadruple in Australia
Klarna's Australian arm racked up losses of $56 million last year, four times bigger than when it launched in the country in 2020, when it reported a $14 million loss.
Klarna CEO on Future of Buy Now, Pay Later
Klarna CEO Sebastian Siemiatkowski joins Emily Chang to discuss the launch of its latest tool, competition on the US and international scene, potential BNPL regulation and consumer sentiment.
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Michael Burry calls out risky subprime lending. Next ‘big short’?
Michael Burry has called out new risky subprime lending, especially in the consumer credit market. Michael Burry’s tweet specifically refers to consumer credit quality at Goldan Sach’s partnership with Apple Pay. However, there are broader issues in the buy now pay later (BNPL) sector. Further, some lenders could increase risky mortgages: Bank of America appears to be offering some loans for which no deposit is required.
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* 0:00 Michael Burry’s comments
* 1:38 Goldman Sach’s credit card risks
* 4:55 Issues in the BNPL sector
* 8:33 Risky mortgages re-emerge
* 11:50 Investment implications
#MichaelBurry #Subprime #BigShort #BNPL
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Could using ‘buy now, pay later’ affect you getting a mortgage? #itvheresthestory #klarna #borrowing
Buy Now, Cry Later – Klarna’s losses quadruple!
Buy Now, Cry Later
Klarna racked up major losses on the back of rising costs and cash-strapped customers.
Klarna got into the buy-now-pay-later (BNPL) game early, and went on to become Europe’s most valuable startup for a time. But now Klarna’s just one of many, which – along with investors’ mounting skepticism about high-growth tech firms – has squashed its valuation to $7 billion, down 85% from last year.