Wednesday, 20 August 2014 09:14
Klarna appoints new director
Former ASOS executive joins Swedish e-payments provider
Swedish online payments provider Klarna has appointed Jon Kamaluddin to its board of directors.
Kamaluddin was formerly international director at the online retailer ASOS from 2009 to 2013 having previously been CFO for five years. As international director, he led ASOS global expansion, including the US, Russia, China, Germany, and Australia, which helped ASOS grow its overseas sales to almost 60 per cent of its overall sales. He also served as a member of ASOS board of directors.
Founded in Stockholm in 2005 and currently valued at around US$1bn, Klarna’s Checkout service enablesconsumers to make online purchases using only their e-mail address and postcode, with no pre-registration or credit cards needed.
The company operates in 15 European countries and claims a 10% market share in greater Europe's US$100bn eCommerce market. It has 45,000 registered merchants, including Spotify, Vista Print, Marks & Spencer and ASOS in Germany.
The board currently consists of 8 members, including Sir Michael Moritz of Sequoia Capital.
Klarna recently launched its Klarna Checkout product in the UK.