Klarna Shares Plunge 66%; Card Hits 5M Users and French App Reaches 7M
Klarna shares slid 66% from the IPO level after at least four senior executives, including its investor relations head, litigation chief and engineering director, resigned. Meanwhile, the company’s Klarna Card has five million users and its French app boasts seven million users, a 221% surge in usage alongside merchant growth.
1. Share Performance and Executive Exits
Klarna shares have fallen about 66% from the IPO price as a wave of senior resignations impacts core functions. Departures include Andrea Ferraz Estrada (investor relations and M&A), global head of litigation D. Andrew Pietro, engineering director Yuri Gusev and AI lead Joao Tonon. Insider transactions saw marketing and commercial chiefs sell shares after the lockup expiration, while chairman Michael Moritz purchased 3.47 million shares for $50 million.
2. Klarna Card User Growth
The fintech’s Klarna Card has rapidly expanded, reaching five million users following recent product enhancements and marketing initiatives. The card business contributes a growing share of transaction volume and fee income as the company seeks to deepen customer engagement.
3. French Market Expansion
Klarna’s French app user base hit seven million, driven by a 221% increase in active usage and accelerated merchant partnerships. The expansion underscores a shift from traditional lending, positioning Klarna to capture further market share in consumer finance services.