NEW YORK, Aug. 31, 2021 /PRNewswire/ -- Klarna, the leading global retail bank, payments, and shopping service, and Global-e (NASDAQ: GLBE), the world's leading cross-border e-commerce platform, today announced an expanded partnership to offer flexible payment options to consumers across the US, UK, France, Spain, Italy, and Australia.
Klarna's payment solutions will now be available to all merchants selling internationally via Global-e's cross-border e-commerce platform. Global-e's international merchants can seamlessly offer Klarna to further enhance their offering of a localized online shopping experience.
Luke Griffiths, Chief Commercial Officer at Klarna, said: "We're seeing consumers globally demanding more choice and flexibility when shopping online and our payment options are proven to provide that flexibility and assist merchants in driving customer acquisition and conversion. Our continued partnership with Global-e enables international retailers to offer their customers across the US, UK, France, Spain, Italy, and Australia alternative payment solutions while providing them with greater payment flexibility."
Shahar Tamari, Co-founder, and COO at Global-e, said: "Klarna's buy now, pay later solutions are proving popular as online shoppers seek additional flexibility and the convenience to pay in whatever way suits their needs. Our partnership with Klarna further fuels our commitment to enable merchants to seamlessly expand their brand globally by offering customers worldwide a top-notch localized experience from the moment they start engaging with retailers' online channels right up to checkout."
Global-e's end-to-end, localized cross-border e-commerce platform allows merchants to tailor the online shopping experience to the preferences and behaviors of shoppers in different markets to enhance and accelerate online sales and conversions. This includes local pricing in more than 100 currencies, local messaging, and a seamless checkout experience supported in over 25 languages. The Global-e platform also offers multiple shipping options at attractive rates, including various value propositions such as free shipping over a specified threshold, a transparent and easy returns process, including pre-paid and local returns and calculation of local import duties and taxes for a guaranteed landed cost with the option of prepayment at checkout.
This expansion follows the success of the Global-e and Klarna partnership launched in 2017 across the Netherlands, Denmark, Norway, Sweden, Finland, Germany, Belgium and Austria. Global-e's international merchants range from everyday fashion retailers to ultra-high-end brands, including, among others, Marks & Spencer, Forever21, Reformation, La Perla, Harvey Nichols, Hugo Boss, Skims, Anastasia Beverly Hills, Never Fully Dressed, Vincero Watches, and Etam.
We make shopping smooth. With Klarna consumers can buy now and pay later, so they can get what they love today. Klarna's offering to consumers and retailers include payments, social shopping, and personal finances. Over 250,000 retail partners, including H&M, IKEA, Expedia Group, Samsung, ASOS, Peloton, Abercrombie & Fitch, Nike and AliExpress have enabled Klarna's innovative shopping experience online and in-store. Klarna is one of the most highly valued private fintechs globally with a valuation of $45.6 billion. Klarna was founded in 2005, has over 4,000 employees and is active in 17 countries. For more information, visit klarna.com.
Global-e (Nasdaq: GLBE) is the world's leading platform enabling and accelerating global, direct-to-consumer cross-border e-commerce. The chosen partner of hundreds of brands and retailers across the United States, Europe and Asia, Global-e makes selling internationally as simple as selling domestically. The company enables merchants to increase the conversion of international traffic into sales by offering online shoppers in over 200 destinations worldwide a seamless, localized shopping experience. Global-e's end-to-end e-commerce solutions combine best-in-class localization capabilities, big-data best-practice business intelligence models, streamlined international logistics and vast cross-border experience, enabling international shoppers to buy seamlessly online and retailers to sell from, and to, anywhere in the world. Founded in 2013 by Amir Schlachet, Shahar Tamari and Nir Debbi, Global-e operates from eight offices worldwide. For more information, please visit: www.global-e.com
Certain statements in this press release may constitute "forward-looking" statements and information, within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. These factors include, but are not limited to: failure to retain our existing merchants, or the gross merchandize value (GMV) generated by such merchants; failure to attract new merchants, or the merchants we do attract fail to generate GMV or revenue comparable to our current merchants; failure to develop or acquire new functionality or enhance our existing platform; failure to successfully compete against current and future competition; failure to integrate our platform with e-commerce platforms; failure to maintain the functionality of our platform; failure to manage our growth effectively; risks associated with cross-border sales and operations; risks associated with governmental export controls; the compromise of personal information of our merchants and shoppers we store; failure to enhance our reputation and awareness of our platform; diminished demand for our platform and services as a result of changes in laws and regulations; actual or perceived failure to comply with stringent and changing laws, regulations, standards and contractual obligations related to privacy, data protection and data security; failure to adequately maintain, protect or enforce our intellectual property rights; the COVID-19 pandemic could materially adversely affect our operations; and other factors discussed under the heading "Risk Factors" in our prospectus related to our initial public offering, filed with the Securities and Exchange Commission ("SEC") on May 13, 2021 and other documents filed with or furnished to the SEC. When used in this press release, such statements include such words as "may," "will," "expect," "believe," "plan," and other similar terminology. These statements reflect management's current expectations regarding future events and operating performance and speak only as of the date of this document. Other than as required by law, there should not be an expectation that such information will in all circumstances be updated, supplemented, or revised whether as a result of new information, changing circumstances, future events, or otherwise.
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