Klarna has filed plans for a U.S. IPO, valuing the firm at $14.6B, a rise from $6.7B in 2022. The company reported 27% revenue growth and $66M in profits in August. Expectations point to an IPO within the first half of 2025.

Wolt has supported €19B in economic activity across its markets. It generated €15B for merchants and €3B in earnings for couriers. Today, Wolt delivers almost everything, with grocery sales hitting €1B annually.

Fjällräven has launched a peer-to-peer resale marketplace in the U.S., powered by Archive. This platform allows customers to buy and sell used Fjällräven products. The resale market in the U.S. was $43B in 2023 and is expected to reach $73B by 2028.

H&M is launching its ‘Pre-Loved’ concept in France and Belgium, featuring second-hand pieces in its Antwerp and Paris flagship stores starting September 12. In parallel, H&M is modernizing 18 stores and improving its website for a seamless shopping experience.

Klarna has launched new balance and cashback features in 12 countries, including the US, on August 15, 2024. These features allow users to store money in a Klarna account and earn up to 10% cashback at participating retailers, strengthening Klarna's position in everyday spending.

H&M's Afound, a digital outlet launched in 2018, will close by the end of 2024. The decision follows a drop in demand as brands favor direct-to-consumer sales strategies. Afound currently operates online in seven European countries.

Temu has outpaced Amazon in Denmark. 71% of Danes recognize Temu, while 22% made a purchase within the last year. The Chinese platform is now more popular than Amazon and eBay, making it the third most recognized online store in Denmark.

Klarna has introduced balance accounts and cashback rewards, launching in 12 countries across Europe and the US. Customers can now store money in a Klarna account, earn cashback up to 10%, and manage multiple payments with ease.

Klarna has integrated its bank-to-bank service Sofort into Klarna Payments, enhancing security and convenience for users. This merger allows Sofortüberweisung to be part of the 'Pay Now' product, improving the global payment experience.

Finnish startup Cluby raises $3.1M to help restaurants connect digitally. Founded by Kalle Ek, Joel Leino, and Pekka Koskinen, the company has over 500 restaurants and 100K users on its app. COVID-19 boosted digital adoption, and now Cluby offers an easy way for smaller venues to compete with big chains. Funds will help expand across Europe.

Schibsted will cut 250 jobs in the Nordic region to reduce costs and boost efficiency. This restructuring follows the divestment of their news media business. CEO Halvorsen emphasizes this as the start of ongoing improvements.

IKEA is launching 'The Co-Worker Game' on Roblox on June 24th. Players can apply for paid virtual co-worker roles until June 16th. This new immersive experience allows fans to work, explore, and earn in IKEA's virtual universe.

Swappie has secured €17M ($18.5M) from the European Investment Bank to enhance its refurbishment processes, reduce carbon footprints, and expand R&D in robotics. This funding, backed by the InvestEU guarantee, aims to make refurbished smartphones more accessible and sustainable.

Schibsted buys 9.99% of FINN from Polaris for NOK 2.5B, enhancing control. Polaris gains Schibsted shares. The transaction involves issuing new Schibsted B-shares based on Oslo Stock Exchange's VWAP. The seller is restricted from selling shares for 90 days post-transaction. Carnegie AS advises Schibsted financially; Advokatfirmaet Wiersholm AS provides legal counsel.

Klarna joins forces with Uber in the USA, Germany, and Sweden, introducing the groundbreaking "Pay Now" feature, aligning payments with salary cycles. This strategic move not only broadens Klarna's service spectrum beyond its traditional online retail domain but also positions it favorably amidst pre-IPO speculations, fostering growth aspirations.

HelloFresh launches Factor, a Ready-to-Eat meal service, targeting Sweden & Denmark. Following success in the US, Canada, Netherlands, & Belgium, this move expands the RTE sector in Europe, reflecting HelloFresh's global brand strategy.

Wolt introduces Double Order, letting customers order from two places at once with one delivery fee. K. Salakka says, "Now you can have both while paying one delivery fee." No order minimums.

Wolt's new advertising venture, Wolt Ads, shows promising early results, enhancing partner engagement and sales. Catalina Salazar highlights the significance of tailored, non-intrusive ads.

Following its acquisition by Vinted, Danish online marketplace Trendsales has laid off all 79 employees as of April 2024, amid uncertainties about its future.

Stockholm's Dema.ai, with its innovative predictive analytics for e-commerce, announces a €7M seed funding led by J12 Ventures and Daphni. Founded in 2022, the platform promises to transform e-commerce decision-making.

H&M Group's strategic shift includes opening 100 new stores while closing 160 in 2024, focusing on enhancing customer experience through physical store refurbishments in prime locations including New York and London.

Swedish payment giant Klarna has been slapped with a hefty $733K fine by a court for GDPR violations, concerning the clarity and accessibility of their privacy notes during March-June 2020. The company's reaction and next steps remain awaited.

Vinted's acquisition of Trendsales aims to conquer the Nordic second-hand market, tapping into Denmark's growing demand for pre-loved fashion.

In a week of automotive shake-ups, Norway's dealer-backed Drive.no launches to challenge Finn.no, while Switzerland's Farie boosts its coffers with a $4.5M funding round. Big moves in the car world!

Klarna's AI, developed with OpenAI, now handles two-thirds of customer service chats, cutting query resolution time from 11 to 2 minutes. This shift is projected to boost profits by $40M in 2024, demonstrating AI's growing impact in fintech.

Aviant's autonomous drones now deliver groceries, medicines, and meals directly to doorsteps in Lillehammer, making life in remote areas a bit less remote. With a 17km reach, they're setting a new standard for accessibility and sustainability.

After securing a hefty $10.3M, Go Autonomous is set to conquer the B2B world with its AI. From Europe to the USA, they're transforming email chaos into seamless transactions, promising a digital revolution in business payments. A game-changer? Absolutely.

Schibsted Ventures, along with Spintop, FJ Labs, and Arkwright X, bets on Tings, aiming to revolutionize circular marketplaces. Tings' app simplifies storing digital receipts, aiding in second-hand sales and repairs, leveraging AI for a sustainable trade future. Partners like IKEA and Fjällräven are on board, with over 17K users already benefiting.

Amid icy sales and shareholder squalls, Daniel Ervér takes the helm at H&M. With a 4% dip in sales and a 12% stock plunge, it’s more SOS than SEO. Ervér aims for a 10% profit margin, navigating choppy waters as Shein and Zara speed ahead. Can he right the ship, or is it time to man the lifeboats?

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🇸🇪 Vinted's Nordic Expansion Exceeds Expectations with €39M Annualised GMV in Sweden. In its first year in the Nordics, Vinted, Europe's leading C2C marketplace, sees strong growth in Sweden and promising starts in Denmark and Finland, aiming to make second-hand fashion the first choice.