NA-KD and Klarna to bring buy now, pay later service to the UK
Millennial online fashion platform NA-KD will be bringing new flexible payments options to the UK market this summer in partnership with payments provider Klarna.
The fast-growing Swedish fashion company, which was founded in 2015 and now has revenues of $50m, already works with Klarna in Sweden, Norway and Finland. Soon its UK customers will be able to take advantage of services such as payments using only email and postcode (no need to enter log-in or card details) and buy now, pay later.
With the buy now, pay later option, customers will be allowed to order items to try at home and only pay for what they keep with up to 30 days to make the payment. British online young fashion giant ASOS added this service via a partnership with Klarna at the end of last year.
Jarno Vanhatapio, founder and CEO at NA-KD, said: “We strive to be at the forefront of the ecommerce revolution, offering a simple, hassle-free browsing and buying experience. 2017 saw us deliver extraordinary results in terms of margin improvements and revenue growth - with significantly improved bottom-line results.
"Looking forward, our top priority for 2018 is international growth - especially targeting the US, UK and Major European markets. In today’s hyper-competitive fashion e-tail environment, we recognise that frictionless and flexible payments are make or break for a lot of consumers, which is exactly why we’ve decided to extend our existing successful partnership with Klarna into the UK.”
NA-KD recently secured a further $40m in Series B funding, which it said will be used to accelerate is global growth, having delivered a 150% growth in sales last year.
Klarna UK general manager Luke Griffiths added: “The expansion of this partnership really highlights the evolving changes in retail which we’re seeing right across the world, and we’re eager to see how extending the partnership with us into the UK will impact sales with NA-KD."