Klarna’s first quarter results indicate a successful comeback for the fintech unicorn.

European fintech company Klarna has recently released its Q1 results, indicating a turnaround for the unicorn. The company’s valuation had seen a significant drop in an $800 million funding round last year while coverage of its 2022 results compared its losses to a conservative market. However, Klarna’s Q1 data indicates that things are beginning to look up for the company. In Q1 2023, Klarna’s Gross merchandise value (GMV) rose by 13% to 210.7 billion Swedish Krona ($19.65 billion) compared to a year earlier. Although Klarna’s achievements may seem small, given overall lackluster growth in the e-commerce market in the last year, the company proved it could still grow amid contracting markets and retain its market share.