Swedish fintech company Klarna won a $1.97 billion antitrust lawsuit against Google, alleging Google’s preferential treatment of its own shopping service harmed PriceRunner, a Klarna subsidiary. The court ruled in favor of Klarna, ordering Google to pay damages.
Klarna, the Swedish fintech company, announced significant growth metrics including a 49% increase in connected merchants to over 1 million and a 21% growth in users to 119 million. The company processed $33.7 billion in payment volume (up 33%) and achieved its first profitable quarter with $1 billion in revenue and $1 million net profit. Klarna is expanding US market presence through partnerships with Stripe, Nexi, JPMorgan Payments, and Worldpay.