The multi-year agreement covers the on-going sale of substantially all of Klarna’s short-term, interest free product receivables in the UK. Klarna has grown substantially in the UK, with ten million British consumers having used the service in the past 12 months. The number of retailers offering Klarna in the UK leapt by 33% in the past year to over 40,000.Klarna says it will still own all consumer-facing activities, including underwriting and servicing.Klarna CFO Niclas Neglén, says: “This is a unique deal, designed to support Klarna’s global growth as we continue on our journey to become the commerce network for the next generation. By efficiently managing our assets, we can deploy shareholder equity more effectively to meet the growing demand for Klarna’s products and services for both consumers and merchants globally.” The deal comes after Klarna completed a three-year programme to build a capital offloading platform that can be touted to institutional investors as it bids to boost its balance sheet ahead of a potential IPO.