Klarna pledges £3m for SME recovery

Buy Now, Pay Later firm Klarna has launched a £3 million SME support package to help businesses recover from the pandemic.

The move comes as new research reveals nearly a quarter of SMEs aren’t confident their business will survive the next two years, with 46 per cent of owners stating their main priority is to simply survive the next six months.

The support package will provide 100 retail SMEs with access support across different elements of their business, from office space and customer acquisition to advertising support.

SMEs will have WeWork all access for 3 months, use of Klarna’s Pay later products for one year and £15,000 of Klarna media services. Together this package equates to around £30,000 of support for each business.

The recipients of the package will be decided by a panel of judges including Matt Vickers MP for Stockton South and co-chair of the APPG on Future of Retail, Alex Marsh head of UK for Klarna and Mathieu Proust, general manager, UK, Ireland & emerging markets at WeWork.

“SMEs are at the core of our economy and it’s vital that they’re given all the tools they need to survive,” said Alex Marsh, head of UK, Klarna. “At Klarna, we are determined to help small retailers navigate their way back to pre-pandemic levels and we hope that this fund, together with our Accelerator Program, will inspire and boost confidence across the SME sector.”

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