Klarna has established a new technology hub in Warsaw, highlighting the city’s emergence as a center for technological innovation. The company plans to recruit over 100 engineers by 2025, leveraging Poland’s rich talent pool in technology and AI.
Sebastian Siemiatkowski, co-founder and CEO of Klarna, remarked, “Poland is Europe’s next tech powerhouse. Warsaw’s exceptional engineering talent, thriving startup scene, and strategic location make it the perfect choice for our new tech hub.” He emphasized that this hub will be crucial in Klarna’s broader strategy to lead AI adoption.
Siemiatkowski previously acknowledged the transformative impact of AI within the company, stating, “Our AI assistant now performs the work of 700 employees, cutting the average resolution time from 11 minutes to just two, all while maintaining customer satisfaction scores comparable to those achieved by human agents.”
Over the past year, the company has reduced its workforce from 5,000 to 3,800 through natural attrition. With nine out of ten Klarna employees already utilizing AI in their daily tasks, Siemiatkowski anticipates further workforce reductions, aiming to ultimately halve the number of employees.
The launch of the new technology hub comes as Klarna announces its second consecutive profitable quarter, achieving a net income of SEK 216 million in Q3, a 57% year-on-year increase. Siemiatkowski noted, “We’re back in familiar territory: profit and growth, just like the old days. With our exciting new collaborations with Worldpay, Apple Pay, Google Pay, and Adyen, we’re closer than ever to making Klarna available at every checkout. We’re preparing for a strong holiday season, and our AI-powered products will help consumers save time, money, and reduce financial worry.”
Klarna’s expansion into traditional banking markets is also gaining momentum. The newly launched Klarna Balance product, designed to enhance everyday spending and saving, has attracted 1.6 million users within just three months. Additionally, Klarna Cashback has generated nearly $5 million in rewards for customers, boosting merchant sales by up to 30% and fostering growth in gross merchandise volume (GMV) and affiliate partnerships.