Buy Now Pay Later (BNPL)

Klarna has reportedly suffered its biggest annual loss totalling $1bn, but its company is certain it is on track to return to profitability.

Comfi, a UAE-based FinTech company founded in 2023 by Alisher Akbarov, Amal Abdullaev, and Sanjar Samiev, has recently secured a substantial $5m debt facility from an undisclosed Abu Dhabi-based private family office.

Koverly, a global B2B payments solution providing payment flexibility alongside reduced foreign exchange rates, has introduced KoverlyPay, a novel buy now, pay later (BNPL) service.

Allianz Trade, Two, a business-to-business (B2B) e-commerce payments platform, and Santander CIB, have partnered to provide the first global B2B Buy Now Pay Later (BNPL) solution for large multinational corporates.

Tamara, Saudi Arabia-based company, secured an additional up to $250m in debt financing, elevating its total warehouse facility to a staggering $400m.

Tamara, a shopping and payments platform in Saudi Arabia and the GCC region, has secured $150m in a receivables warehouse facility from Goldman Sachs.

Klarna, the AI-powered global payments network and shopping assistant, and Adobe Commerce, a leader in digital commerce solutions, have announced a strategic partnership.

Klarna has revealed that it is the first bank to adopt Open AI's Chat GPT Enterprise platform, as it continues to lead the race for AI implementation into online banking.

Singapore-based B2B BNPL and insurance player actyv.ai has collected $12m in its pre-Series A funding round, as it explores global expansion efforts.  

Ahead of the bustling Black Friday sales, a concerning revelation has emerged from Creditspring's recent study. An astonishing 16 million people in the UK are still oblivious to the fact that using 'Buy Now Pay Later' (BNPL) services can lead to significant debt.