Saturday, June 22, 2024

Losses at Klarna soar

By DAC000 , in BNPL fintech bubble , at August 27, 2021 Tags: ,

largely due to it’s rampant global expansion as the Swedish Fintech tries to dominate the Buy Now, Pay Later (BNPL) sector, according to FT. About a one minute read.

Comment: we’ve talked BNPL in the past and I do try to keep my personal view on debt out of the discussion, but its difficult for me to see a need for a service that allows someone to sharply expand future spending by going into debt. Note Klarana’s losses are already soaring — guess what? They won’t get much better in a recession.

Speaking as someone who saw The Subprime Debt bubble from the inside, this looks a lot like The Subprime Debt bubble.