Klarna CEO: We have more customers than Revolut

By 20VC

Categories: VC, Startup

Summary

Klarna CEO reveals they have over 110 million customers worldwide, double the size of Revolut. However, Revolut has higher customer engagement, so Klarna is transitioning to be a 'high engagement banking provider' to accelerate growth.

Key Takeaways

1. Klarna has over 110 million customers worldwide, double the size of Revolut's 65 million customers.
2. Revolut has higher customer engagement than Klarna, so Klarna is transitioning to become a 'high engagement banking provider'.
3. Klarna's transition to become a 'high engagement banking provider' is accelerating, with people rapidly adopting their banking services.
4. Klarna is focused on increasing customer engagement to drive growth, rather than just relying on a large customer base.
5. Klarna is positioning itself as a full-service banking provider, rather than just a payments solution.
6. Klarna is accelerating its transition to become a 'high engagement banking provider' to drive growth and customer adoption.

Topics

• Fintech
• Customer Engagement
• Banking Transformation
• Growth Acceleration
• Competitive Landscape

Transcript Excerpt

Cloner has 110 million customers worldwide. Revolute now has 65, right? So I'm twice the size in number of customers, but the engagement that I have is not as high yet as it is with Revolute. People may use us less frequently and for other things, right? So what I'm doing right now, what we're doing at CLA is moving from being kind of your infrequent payments solution to being your high engagement banking provider, right? And that transition is going extremely well. It's going extremely well and...