UK-based ‘buy now, pay later’ FinTech Klarna has surpassed 3 million active UK users in the past 12 months and over 170,000 merchants globally.

Hailed as Europe’s most valuable private FinTech following a $5.5bn valuation earlier this summer, Klarna’s clients include ASOS, Abercrombie & Fitch, Michael Kors, Superdry, Gymshark, Samsung, and Topshop..

The firm, which has 2,500 employees and is active in 17 countries, said it now has more than 50,000 new customers a week choosing ‘Pay later’ at retailer checkouts, and has processed 12m transactions in the past year.

It said it is now also partnering with UK retailers to offer its products in-store at selected retailers.

Luke Griffiths, general manager at Klarna UK, said: “The growth we’ve seen since launching in the UK has been astounding, but I’m particularly proud of what we’ve been able to achieve in the last 12 months.

“We know that customers love the flexibility and convenience that comes with alternative payments, and by delivering the best possible experience to shoppers, we’ve been able to partner with some remarkable brands and retailers in the UK.”

The firm recently announced its new campaign, ‘No drama, just Klarna’, which includes rhymes for the thirteen retailers it has partnered with including, “I shop like a boss, ASOS”, to “Pay in three, JD” and “When I’ve decided, Missguided”.

Donna Storey, Global Digital & Marketing Director at Mothercare said of the campaign: “We wanted to work with someone who recognised that payments were part of our wider drive to give shoppers a better experience across channels — not simply a different box to click at the till, and Klarna has absolutely delivered on that.”