The new entity, Klarna Warehouse Funding Trust I Designated Activity Company, was incorporated last month, according to CRO filings.
Its address is registered at the Dublin offices of company formations and corporate administration specialists CSC, rather than the Swedish financial technology firm’s own Irish office – the two companies do not share any directors.
However, Klarna Group confirmed that the new Irish entity is a Klarna-controlled entity.
The role of Klarna Warehouse Funding within the group is related to a structured financial arrangement, to support the lender’s diverse funding base, a spokesman said.
In recent days Spanish banking giant Banco Santander registered a charge over the assets of the new entity, a standard action where a company has taken on a loan.
Klarna provides a growing number of financial services to consumers and retailers but its core business is so-called buy-now-pay-later loans to shoppers that allow them to spread the cost of purchases over fixed, generally short, periods. It charges retailers a fee for arranging and providing credit to consumers, whose loans are usually interest fee unless they miss a repayment.
In April, Klarna paused plans for a stock-market flotation in the US, as markets were rocked by Donald Trump’s then bombshell tariff announcements, but a listing that would value the business at around €15bn is reportedly still in the works. Last Thursday, the company reported that its second-quarter revenue was up 20pc from a year earlier, on a like-for-like basis, while adjusted profits increased slightly.
Klarna’s April-June revenue grew to $823m, while its adjusted operating profit stood at $29m, an increase of $1m from the same quarter of last year, its earnings report showed.
The number of active Klarna customers rose to 111 million in the quarter, an increase of 31pc year-on-year, the company said. The company has previously indicated it has around one million active users in Ireland.
Klarna did not say when it might resume an initial public offering. Bloomberg, citing unnamed sources, last month reported that the company’s IPO could take place as soon as this coming September.
source