103-478: Klarna Bank AB , commonly referred to as Klarna , is a Swedish fintech company that provides online financial services. The company provides payment processing services for the e-commerce industry, managing store claims and customer payments. The company is a " buy now, pay later " service provider. The company has more than 5,000 employees, most of them working at the headquarters in Stockholm and Berlin. In 2021,
206-485: A Nordic social welfare system that provides universal health care and tertiary education for its citizens. It has the world's 14th highest GDP per capita and ranks very highly in quality of life , health , education , protection of civil liberties , economic competitiveness, income equality , gender equality and prosperity . Sweden joined the European Union on 1 January 1995 and NATO on 7 March 2024. It
309-563: A UN-mandated no-fly zone over Libya during the Arab Spring . In addition, there was extensive cooperation with other European countries in the area of defence technology and defence industry; some Swedish-made weaponry was used by Coalition militaries in Iraq. In response to the 2022 Russian invasion of Ukraine , Sweden moved to formally join NATO, alongside Finland. After many months of delays caused by
412-441: A fiscal crisis in the early 1990s. Sweden's GDP declined by around 5%. In 1992, a run on the currency caused the central bank to briefly increase interest rates to 500%. The response of the government was to cut spending and institute a multitude of reforms to improve Sweden's competitiveness, among them reducing the welfare state and privatising public services and goods. A referendum passed with 52.3% in favour of joining
515-507: A military campaign against Norway on 27 July 1814, ending in the Convention of Moss , which forced Norway into a personal union with Sweden under the Swedish crown, which lasted until 1905. The 1814 campaign was the last time Sweden was at war. The Swedish East India Company began in 1731. The obvious choice of home port was Gothenburg at Sweden's west coast, the mouth of Göta älv river
618-467: A personal union under King Magnus Eriksson, the grandson of King Magnus Ladulås of Sweden and of King Haakon V of Norway. Magnus Eriksson also ruled Scania from 1332 to 1360. In the mid-14th century, Sweden was struck by the Black Death . The population of Sweden and most of Europe was decimated. The population did not reach its pre-1348 levels until the beginning of the 19th century, with one third of
721-529: A $ 155 million investment round joined by DST Global , and General Atlantic's managing director Anton Levy joined the board of directors. In May 2011, Klarna acquired Israeli company Analyzd, which provided risk management and fraud prevention services In 2013, Klarna and German SOFORT AG [ de ] merged to become Klarna Group. Klarna launched in the United States in September 2015, and
824-509: A distinct period of winter. The northern parts of the country have a subarctic climate while the central parts have a humid continental climate . The coastal south can be defined as having either a humid continental climate using the 0 °C isotherm, or an oceanic climate using the -3 °C isotherm. PriceRunner The website PriceRunner is a price comparison service launched in Sweden in 1999. It allows users to compare prices on
927-497: A list of the fired employees on LinkedIn, several users described his post as "tone deaf". Many Swedish e-commerce scams use Klarna as their payment solution. Additionally, there are many cases of ID thefts, when Klarna is used to make transactions in other people's names. Sweden – in Europe (green & dark grey) – in the European Union (green) – [ Legend ] Sweden , formally
1030-457: A low population density of 25.5 inhabitants per square kilometre (66/sq mi); 88% of Swedes reside in urban areas. They are mostly in the central and southern half of the country. Sweden's urban areas together cover 1.5% of its land area. Sweden has a diverse climate owing to the length of the country, which ranges from 55°N to 69°N . Sweden has been inhabited since prehistoric times , c. 12,000 BC . The inhabitants emerged as
1133-608: A marketplace for fashion and lifestyle goods. In 2020, Ant Financial , the payment affiliate of Chinese e-commerce company Alibaba , invested in Klarna as part of a partnership between the two firms. In June 2021, Klarna raised $ 639 million in a fundraising round led by SoftBank Group 's Vision Fund 2, increasing the company's valuation to $ 45.6 billion. In November 2021, Klarna launched its physical card, which enabled users to make purchases in interest-free installments. In January 2022, Klarna launched their physical card in
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#17328587714941236-595: A range of products. The company is headquartered in Stockholm , Sweden, and also operates within Denmark, and the UK. In March 2022, it was announced that PriceRunner had been acquired by the Swedish fintech company, Klarna . PriceRunner was launched in 1999 as a price comparison service based in Sweden and originally financed by a venture capitalist group called Cell Ventures, who were later acquired by NewMedia Spark . It launched
1339-488: A rapid population growth. These innovations included government-sponsored programmes of enclosure , aggressive exploitation of agricultural lands, and the introduction of new crops such as the potato. The Swedish farming culture began to take on a critical role in Swedish politics, which has continued through modern times with modern Agrarian party (now called the Centre Party). Between 1870 and 1914, Sweden began developing
1442-473: A reported $ 80 million. In March 2016, PriceRunner was sold to Swedish firm NS Intressenter. Barry Diller of IAC had initially been looking for "roughly $ 100 million", although the actual sale figure was not disclosed publicly. As of 2020, Nicklas Storåkers, CEO, and the investment firm eEquity have purchased Nordstjernans ownership stake in the company, with one of PriceRunner's founders, Magnus Wiberg returning as an executive board member. In March 2022
1545-473: A selection of discounts from partners like Nike and Instacart , and see service feeds waived when using the Klarna One Time Card. The fee would be $ 7.99 each month, as opposed to typical fees of $ 1 or $ 2 when using the service outside the network at retailers like Walmart or Costco . The company's Chief Marketing Officer, David Sandstrom, said there were also plans for a high-yield savings account in
1648-454: A series of Crusades to pagan Finland and started conflicts with the Rus' , who by then had no further connections with Sweden. The Swedish colonisation of the coastal areas of Finland began in the 12th and 13th centuries. By the 14th century, this colonisation became more organised, and by the end of the century, several of the coastal areas of Finland were inhabited mostly by Swedes. Except for
1751-608: A sword, and a knife, and keeps each by him at all times. The swords are broad and grooved, of Frankish sort. The actions of these Swedish Vikings are commemorated on many runestones in Sweden, such as the Greece runestones and the Varangian runestones . There was also considerable participation in expeditions westwards, which are commemorated on stones such as the England runestones . The last major Swedish Viking expedition appears to have been
1854-607: A valuation of $ 6.7 billion. Their valuation dropped 85% in one year, in line with decreasing valuations of unprofitable technology companies. Klarna lost $ 580 million between January and July 2022. In September of that year, Klarna announced plans to lay off an additional 100 employees. The announcement came after budget revisions due to its drop in valuation and announced losses. Since September 2022, Klarna offers savings accounts and deposits to Spanish customers through Raisin Bank [ es ; de ] . In October 2022,
1957-838: Is also a member of the United Nations , the Schengen Area , the Council of Europe , the Nordic Council , the World Trade Organization and the Organisation for Economic Co-operation and Development (OECD). The name for Sweden is generally agreed to derive from the Proto-Indo-European root * s(w)e , meaning "one's own", referring to one's own tribe from the tribal period. The native Swedish name, Sverige (a compound of
2060-498: Is covered with forests. The highest population density is in the Öresund Region in southern Sweden, along the western coast up to central Bohuslän, and in the valley of lake Mälaren and Stockholm. Gotland and Öland are Sweden's largest islands ; Vänern and Vättern are its largest lakes. Vänern is the third largest in Europe, after Lake Ladoga and Lake Onega in Russia. Combined with
2163-479: Is sometimes considered as the foundation of modern Sweden . Shortly afterwards the new king rejected Catholicism and led Sweden into the Protestant Reformation . The term riksdag was used for the first time in the 1540s, although the first meeting where representatives of different social groups were called to discuss and determine affairs affecting the country as a whole took place as early as 1435, in
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#17328587714942266-594: Is the one that doesn't pay directly but actually [gets] a reminder and then also debt collection because we are able to add the legal fees." In Germany, the District Court of Bremerhaven ruled in 2022 that Klarna could not demand a flat rate of €1.20 for a reminder by e-mail because Klarna had not submitted any corresponding costs. In February 2020, Der Spiegel reported that Klarna's autofill feature allowed anyone to extract personal information, such as phone number, postal address and date of birth, only based on
2369-402: Is very wide and has the county's largest and best harbour for high-seas journeys. The trade continued into the 19th century, and caused the little town to become Sweden's second city. Between 1750 and 1850, the population in Sweden doubled. According to some scholars, mass emigration to America became the only way to prevent famine and rebellion; over 1% of the population emigrated annually during
2472-564: The Svear and the Götar (Geats) of Götaland were united under a single ruler. In the former case, Svealand was first mentioned as having one single ruler in the year 98 by Tacitus, but it is almost impossible to know for how long it had been this way. The epic poem Beowulf describes semi-legendary Swedish-Geatish wars in the sixth century. However, historians typically start the line of Swedish monarchs from when Svealand and Götaland were ruled under
2575-494: The 2013 Stockholm riots . In response to these violent events, the anti-immigration opposition party, the Sweden Democrats , promoted their anti-immigration policies, while the left-wing opposition blamed growing inequality caused by the centre-right government's socioeconomic policies. Sweden was heavily affected by the 2015 European migrant crisis , eventually forcing the government to tighten regulations of entry to
2678-559: The Allerød oscillation , a warm period around 12,000 BC, with Late Palaeolithic reindeer -hunting camps of the Bromme culture at the edge of the ice in what is now the country's southernmost province, Scania . This period was characterised by small clans of hunter-gatherers who relied on flint technology. Sweden and its people were first described by Publius Cornelius Tacitus in his Germania (98 AD). In Germania 44 and 45 he mentions
2781-594: The Baltic Sea and Gulf of Bothnia , providing a long coastline, and forms the eastern part of the Scandinavian Peninsula . To the west is the Scandinavian mountain chain ( Skanderna ), a range that separates Sweden from Norway. Finland is located to its north-east. It has maritime borders with Denmark, Germany, Poland, Russia, Lithuania , Latvia and Estonia , and it is also linked to Denmark (south-west) by
2884-622: The Baltic countries , Russia, Belarus, Ukraine, the Black Sea and even as far as Baghdad . Their routes passed through the Dnieper south to Constantinople , on which they carried out numerous raids. The Byzantine Emperor Theophilos noticed their great skills in war, and invited them to serve as his personal bodyguard, known as the Varangian Guard . The Swedish Vikings, called Rus are believed to be
2987-504: The Battle of Nördlingen in 1634, Sweden's only significant military defeat of the war, pro-Swedish sentiment among the German states faded. These German provinces broke away from Swedish power one by one, leaving Sweden with only a few northern German territories: Swedish Pomerania , Bremen-Verden and Wismar . From 1643 to 1645, during the last years of the war, Sweden and Denmark-Norway fought
3090-713: The Geats (Swedish: Götar ) and Swedes ( Svear ), which together constituted the sea-faring peoples known as the Norsemen . A unified Swedish state was established during the late 10th century. In 1397, Sweden joined Norway and Denmark to form the Scandinavian Kalmar Union , which Sweden left in 1523. When Sweden became involved in the Thirty Years' War on the Protestant side, an expansion of its territories began, forming
3193-472: The Hanseatic League , and the local Gutes . Småland was of little interest at the time due to its deep pine forests, with only the city of Kalmar and its castle holding any significant importance. There were also Swedish settlements along the southern coastline of Norrland , one of the four lands of Sweden . Saint Ansgar is traditionally credited with introducing Christianity to Sweden in 829, but
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3296-573: The House of Bernadotte , taking the regnal name of Charles XIV. Sweden's role in the Battle of Leipzig gave it the authority to force Denmark–Norway, an ally of France, to cede Norway to the King of Sweden on 14 January 1814 in exchange for the northern German provinces, at the Treaty of Kiel . The Norwegian attempts to keep their status as a sovereign state were rejected by the Swedish king, Charles XIII . He launched
3399-516: The Kingdom of Sweden , is a Nordic country located on the Scandinavian Peninsula in Northern Europe . It borders Norway to the west and north, and Finland to the east. At 450,295 square kilometres (173,860 sq mi), Sweden is the largest Nordic country and the fifth-largest country in Europe. The capital and largest city is Stockholm . Sweden has a population of 10.6 million, and
3502-654: The Marshall Plan and participated in the OECD. During most of the post-war era, the country was governed by the Swedish Social Democratic Party largely in co-operation with trade unions and industry. The government actively pursued an internationally competitive manufacturing sector of primarily large corporations. Sweden was one of the founding states of the European Free Trade Area (EFTA). During
3605-639: The Polish–Lithuanian Commonwealth in multiple conflicts. During the Thirty Years' War, Sweden conquered approximately half of the Holy Roman states and defeated the Imperial army at the Battle of Breitenfeld in 1631. Gustavus Adolphus planned to become the new Holy Roman Emperor , ruling over a united Scandinavia and the Holy Roman states, but he was killed at the Battle of Lützen in 1632. After
3708-857: The Stockholm School of Economics annual entrepreneurship competition. Angel investor Jane Walerud invested in their company and connected them with a team of programmers. In 2007, venture capital firm Investment AB Öresund invested in the company. Three years later, Klarna started providing services in Norway, Finland, Denmark, Germany and the Netherlands. They also received an investment from Sequoia Capital , and increased their revenue by over 80% to US$ 54 million (~400 million SEK ). In 2011, British newspaper The Telegraph listed Klarna as one of Europe's 100 most promising young tech companies. In 2011, growth equity firm General Atlantic led
3811-502: The Swedish Authority for Privacy Protection ( Integritetsskyddsmyndigheten ) fined Klarna 7.5 million kr for inadequacies in its privacy notice and handling of personal data. Klarna stated it would appeal the decision for further clarification on the guidelines. In May 2022, Siemiatkowski revealed it would be laying off more than 10% of its employees. A former employee described the layoffs as "chaotic". When Siemiatkowski posted
3914-590: The Swedish Empire , which remained one of the great powers of Europe until the early 18th century. During this era Sweden controlled much of the Baltic Sea . Most of the conquered territories outside the Scandinavian Peninsula were lost during the 18th and 19th centuries. The eastern half of Sweden, present-day Finland, was lost to Imperial Russia in 1809. The last war in which Sweden was directly involved
4017-472: The Torstenson War . The result of that conflict and the conclusion of the Thirty Years' War helped establish postwar Sweden as a major force in Europe. The Peace of Westphalia in 1648 granted Sweden territories in northern Germany. In the middle of the 17th century, Sweden was the third-largest country in Europe by land area. Sweden reached its largest territorial extent under the rule of Charles X after
4120-468: The Uppsala Synod in 1593 which officially confirmed the modern Church of Sweden as Lutheran . Following his deposition in 1599, Sigismund attempted to reclaim the throne sparing no expense, and hostilities between Poland and Sweden continued for the next hundred years. Sweden rose to prominence on a continental scale during the reign of king Gustavus Adolphus , seizing territories from Russia and
4223-564: The treaty of Roskilde in 1658, following Charles X's crossing of the Danish Belts . The foundation of Sweden's success during this period is credited to Gustav I's major changes to the Swedish economy in the 16th century, and his introduction of Protestantism . One-third of the Finnish population died in the devastating Great Famine of 1695–1697 that struck the country. Famine also hit Sweden, killing roughly 10% of Sweden's population. In
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4326-408: The Öresund Bridge . Its border with Norway ( 1,619 km long) is the longest uninterrupted border within Europe. Sweden lies between latitudes 55° and 70° N , and mostly between longitudes 11° and 25° E (part of Stora Drammen island is just west of 11°). At 449,964 km (173,732 sq mi), Sweden is the 55th-largest country in the world, the fifth-largest country in Europe, and
4429-690: The Øresund channel, thus closing it to Allied shipping, and allowing the Germans to use Swedish facilities and the Swedish cipher to transmit secret messages to their overseas embassies. Sweden also allowed volunteers to fight alongside the Germans for the White Guards against the Red Guards and Russians in the Finnish Civil War , and briefly occupied Åland in cooperation with the German Empire. As in
4532-520: The 17th century, Sweden was engaged in many wars, for example with Poland–Lithuania, with both sides competing for territories of today's Baltic states . The Polish–Swedish War (1626–1629) ended with a ceasefire in Stary Targ ( Truce of Altmark ) on 26 September 1629 that was in favour of the Swedes, to whom Poland ceded the larger part of Livonia together with its important port of Riga . The Swedes also got
4635-423: The 1880s. It is thought that between 1850 and 1910 more than one million Swedes moved to the United States . Nevertheless, Sweden remained poor, retaining a nearly entirely agricultural economy even as Western European countries began to industrialise. Despite the slow rate of industrialisation into the 19th century, many important changes were taking place in the agrarian economy due to constant innovations and
4738-569: The 1960s the EFTA countries were often referred to as the Outer Seven, as opposed to the Inner Six of the then- European Economic Community (EEC). Like many industrialised countries, Sweden entered a period of economic decline and upheaval following the oil embargoes of 1973–74 and 1978–79. In the 1980s several key Swedish industries were significantly restructured. Shipbuilding was discontinued, wood pulp
4841-542: The 20th century, people gradually moved into cities to work in factories and became involved in socialist unions. A communist revolution was avoided in 1917, following the re-introduction of parliamentarism , and the country was democratised . Sweden was officially neutral during World War I . However, under pressure from the German Empire , they did take steps which were detrimental to the Allied powers – most notably, mining
4944-609: The EU on 13 November 1994. Sweden joined the European Union on 1 January 1995. In a 2003 referendum the Swedish electorate voted against joining the Euro currency. Sweden held the chair of the European Union from 1 July to 31 December 2009. On 28 September 1994, the MS Estonia sank as the ship was crossing the Baltic Sea, en route from Tallinn, Estonia, to Stockholm, Sweden. The disaster claimed
5047-738: The First World War, Sweden remained officially neutral during World War II , although its neutrality has been disputed. Sweden was under German influence for much of the war, as ties to the rest of the world were cut off through blockades. The Swedish government unofficially supported Finland in the Winter War and the Continuation War by allowing volunteers and materiel to be shipped to Finland. However, Sweden supported Norwegian resistance against Germany, and in 1943 helped rescue Danish Jews from deportation to Nazi concentration camps . During
5150-496: The Hanseatic League, and entered its golden era, the fact that the peasantry had traditionally been free meant that more of the economic benefits flowed back to them rather than going to a feudal landowning class. The end of the 16th century was marked by a final phase of rivalry between the remaining Catholics and the new Protestant communities. In 1592, Gustav Vasa's Catholic grandson and king of Poland , Sigismund , ascended
5253-548: The Nazis' war efforts. Sweden was officially a neutral country and remained outside NATO and Warsaw Pact membership during the Cold War , but privately Sweden's leadership had strong ties with the United States and other western governments. Following the war, Sweden took advantage of an intact industrial base, social stability and its natural resources to expand its industry to supply the rebuilding of Europe. Sweden received aid under
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#17328587714945356-399: The Roman Period is curt inscriptions demonstrating that the people of south Scandinavia spoke Proto-Norse at the time, a language ancestral to Swedish and other North Germanic languages . In the sixth century, Jordanes names two tribes living in Scandza , both of which are now considered to be synonymous with the Swedes: the Suetidi and Suehans . The Suehans were known to
5459-432: The Roman world as suppliers of black fox skins and, according to Jordanes, had very fine horses, similar to those of the Thyringi of Germania ( alia vero gens ibi moratur Suehans, quae velud Thyringi equis utuntur eximiis ). The Swedish Viking Age lasted roughly from the eighth century to the 11th century. It is believed that Swedish Vikings and Gutar mainly travelled east and south, going to Finland, Estonia,
5562-488: The Russian army at Poltava. The defeat meant the beginning of the end for the Swedish Empire. In addition, the plague raging in East Central Europe devastated the Swedish dominions and reached Central Sweden in 1710. Returning to Sweden in 1715, Charles XII launched two campaigns against Norway in 1716 and 1718, respectively. During the second attempt, he was shot to death during the siege of Fredriksten fortress. The Swedes were not militarily defeated at Fredriksten, but
5665-414: The Swedes ( Suiones ) as a powerful tribe with ships that had a prow at each end ( longships ). Which kings ( * kuningaz ) ruled these Suiones is unknown, but Norse mythology presents a long line of legendary and semi-legendary kings going back to the last centuries BC. The runic script was in use among the south Scandinavian elite by at least the second century AD, but all that has survived from
5768-445: The Swedish financial supervisory authority Finansinspektionen approved the deal with Klarna. PriceRunner officially became part of Klarna as of April 1st, 2022. PriceRunner uses a combination of screen scraping retailers' websites and files supplied by the retailers themselves. These prices are matched against a backend database. This is done both by using a fuzzy logic automatching system and manually by admin staff. PriceRunner
5871-401: The Swedish throne. He pursued to strengthen Rome's influence by initiating Counter-Reformation and created a dual monarchy that temporarily became known as the Polish-Swedish Union . His despotic rule, strongly characterised by intolerance towards the Protestants, sparked a civil war that plunged Sweden into poverty. In opposition, Sigismund's uncle and successor, Charles Vasa , summoned
5974-424: The UK Close Brothers Group . In 2019, Klarna raised $ 460 million with plans to expand its operations the US, with participation from Dragoneer Investment Group , Commonwealth Bank of Australia , HMI Capital, Merian Chysalis Investment Company Limited and others. This funding round valued the company at $ 5.5 billion, making Klarna the largest fintech start-up in Europe. In 2020, Klarna acquired Nuji,
6077-411: The UK Government announced that the sector would be subject to regulation from the UK's Financial Conduct Authority . In Sweden a large number of complaints regarding Klarna were sent to the Swedish Consumer Agency in 2014. Many customers had received reminder fees and threats about debt collection without having received a proper invoice. It was speculated if this was an unethical business model since
6180-526: The UK would be powered by PriceRunner and Shopping.com. They had previously been powered by Kelkoo . In 2007-8 PriceRunner also set up partnerships with Ask, the Energy Saving Trust , MSN and Which? providing them with shopping engines for their websites. It also partnered with Nectar to offer Nectar Points. In 2011, it introduced new branding produced by agency Firedog. In November 2013, ValueClick sold its global media properties (including Investopedia , Coupon Mountain and PriceRunner) to IAC for
6283-415: The UK. The card had a wait list of 400,000 users as of January 2022. In March 2022, Klarna acquired PriceRunner , a company that provides price comparisons on products. In May 2022, Klarna laid off roughly 10% of its workforce. In June 2022, Klarna announced a partnership deal with card issuer Marqeta to bring physical Visa cards to the US. In July 2022, Klarna raised $ 800 million in funding at
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#17328587714946386-504: The US has become its principal focus for future growth, after securing exclusive partnerships with luxury department store Macy's . That year, Minister of Enterprise and Innovation Mikael Damberg dubbed Klarna one of Sweden's "five unicorns ", by which he meant startup companies that had succeeded in growing and attracting international investments. The other four companies were Spotify , Mojang , Skype , and King . In September 2018, Klarna acquired Close Brothers Retail Finance from
6489-473: The US, with potential for subscribers to earn a higher rate than non-users. In February 2024, Klarna announced that AI replaced 700 employees at the company, about 10% of the workforce at the time. In November 2024, Klarna filed for an initial public offering in the USA. In the UK, Klarna operates in the rapidly growing post-payment sector which has been criticised for encouraging consumers to get themselves into unserviceable levels of debt. In February 2021,
6592-456: The area of present-day Sweden and 50,000 from the Finnish part of Sweden . Executive power was historically shared between the King and an aristocratic Privy council until 1680, followed by the King's autocratic rule initiated by the commoner estates of the Riksdag. As a reaction to the failed Great Northern War, a parliamentary system was introduced in 1719, followed by three different flavours of constitutional monarchy in 1772, 1789 and 1809,
6695-502: The canal. Sweden also has plenty of long rivers draining the lakes. Northern and central Sweden have several wide rivers known as älvar , commonly sourced within the Scandinavian Mountains. The longest river is Klarälven - Göta älv , which originates in Trøndelag in central Norway, running 1,160 kilometres (720 mi) before it enters the sea at Gothenburg . In southern Sweden, narrower rivers known as åar are also common. The vast majority of municipal seats are set either on
6798-499: The company handled about US$ 80 billion in online sales. As of 2011, about 40% of all e-commerce sales in Sweden went through Klarna. In 2021, the company was Europe's most valuable private tech company, at a $ 45.6 billion valuation. However, their valuation was cut to $ 6.7 billion in 2022 after struggling to attract additional outside investment. The three founders Sebastian Siemiatkowski , Niklas Adalberth and Victor Jacobsson founded Klarna in 2005 after participating in
6901-407: The company launched a new "Klarna Creator" application for retailers and influencers to collaborate on brand campaigns and to track their earnings. In January 2024, the company announced a plan for a monthly subscription plan ahead of an anticipated initial public offering later in the year. Users of the service, called Klarna Plus, would earn double the amount of usual reward points, attain access to
7004-407: The company made money on these reminder fees and Klarna also had a subsidiary dedicated to debt collection. The Swedish Consumer Agency also found a reason to investigate how Klarna added credit fees for partial payments. The year before the co-founder Niklas Adalberth said in a presentation during the startup conference Arctic15 that: "That is one of our revenue streams [...] the best customer
7107-401: The country. Some of the asylum restrictions were relaxed again later. On 30 November 2021, Magdalena Andersson became Sweden's first female prime minister. The September 2022 general election ended in a narrow win to a bloc of right-wing parties. On 18 October 2022, Ulf Kristersson of the Moderate Party became the new Prime Minister. Situated in Northern Europe, Sweden lies west of
7210-419: The email address and postal code of a customer. In October 2020, Klarna mistakenly sent a marketing email to people who had never disclosed their contact information to Klarna. This triggered an investigation by the Information Commissioner's Office in the UK. For a brief period in May 2021, users could view the information of other users using their own login information. Klarna claims that user information
7313-407: The first battles of the Great Northern War , the Russian army was so severely devastated that Sweden had an open chance to invade Russia. However, Charles XII did not pursue the Russian army, instead turning against Poland and defeating the Polish king, Augustus II the Strong , and his Saxon allies at the Battle of Kliszów in 1702. This gave Russia time to rebuild and modernise its army. After
7416-509: The founders of Kievan Rus' . The Arab traveller Ibn Fadlan described these Vikings saying: I have seen the Rus as they came on their merchant journeys and encamped by the Itil . I have never seen more perfect physical specimens, tall as date palms, blond and ruddy; they wear neither tunics nor caftans, but the men wear a garment which covers one side of the body and leaves a hand free. Each man has an axe,
7519-630: The ill-fated expedition of Ingvar the Far-Travelled to Serkland , the region south-east of the Caspian Sea . Its members are commemorated on the Ingvar runestones , none of which mentions any survivor. During the early stages of the Viking Age, a centre of trade in northern Europe developed at Birka on the island of Björkö , not far from where Stockholm was later constructed, in mid-latitude Sweden. Birka
7622-501: The industrialised economy that exists today. Strong grassroots movements sprang up in Sweden during the latter half of the 19th century (trade unions, temperance groups, and independent religious groups), creating a strong foundation of democratic principles. These movements precipitated Sweden's migration into a modern parliamentary democracy, achieved by the time of World War I. As the Industrial Revolution progressed during
7725-564: The largest country in Northern Europe. The lowest elevation in Sweden is in the bay of Lake Hammarsjön, near Kristianstad , at −2.41 m (−7.91 ft) below sea level. The highest point is Kebnekaise at 2,111 m (6,926 ft) above sea level . Sweden has 25 provinces or landskap . While these provinces serve no political or administrative purpose, they play an important role in people's self-identity . The provinces are usually grouped together in three large lands , parts,
7828-500: The last year of the war, Sweden began to play a role in humanitarian efforts, and many refugees, among them several thousand Jews from Nazi-occupied Europe, were rescued thanks to the Swedish rescue missions to internment camps and partly because Sweden served as a haven for refugees. The Swedish diplomat Raoul Wallenberg and his colleagues ensured the safety of tens of thousands of Hungarian Jews. Nevertheless, both Swedes and others have argued that Sweden could have done more to oppose
7931-548: The latter granting several civil liberties. Already during the first of those three periods, the 'Era of Liberty' (1719–72) the Swedish Rikstag had developed into a very active Parliament, and this tradition continued into the nineteenth century, laying the basis for the transition towards modern democracy at the end of that century. In the 18th century, Sweden did not have enough resources to maintain its territories outside Scandinavia, and most of them were lost, culminating with
8034-423: The lifetime task of Charles X's son, Charles XI , to rebuild the economy and refit the army. His legacy to his son, the coming ruler of Sweden, Charles XII , was one of the finest arsenals in the world, a large standing army and a great fleet. Russia, the most serious threat to Sweden at this time, had a larger army but lagged far behind in both equipment and training. After the Battle of Narva in 1700, one of
8137-731: The lives of 852 people (501 of them were Swedes ), being one of the worst maritime disasters of the 20th century. Until 2022, Sweden generally remained non-aligned militarily, although it participated in some joint military exercises with the North Atlantic Treaty Organization (NATO) and some other countries, stationed its troops under NATO command in Afghanistan , took part in EU-sponsored peacekeeping operations in Kosovo , Bosnia and Herzegovina , and Cyprus , and helped enforce
8240-558: The loss in 1809 of eastern Sweden to Russia, which became the highly autonomous Grand Principality of Finland in Imperial Russia . In interest of re-establishing Swedish dominance in the Baltic Sea, Sweden allied itself against its traditional ally and benefactor, France, in the Napoleonic Wars . However, in 1810, a French Marshal, Jean-Baptiste Bernadotte , was chosen as heir presumptive to Charles XIII ; in 1818, he established
8343-669: The new religion did not begin to fully replace paganism until the 12th century. During that century, Sweden was undergoing dynastic struggles between the Erik and Sverker clans. The conflict ended when a third clan married into the Erik clan, founding the Bjälbo dynasty, which gradually consolidated Sweden into a stronger state. According to the Legend of Saint Erik and the Erik's Chronicle , Swedish kings conducted
8446-592: The northern Norrland, the central Svealand and southern Götaland. The sparsely populated Norrland encompasses almost 60% of the country. Sweden also has the Vindelfjällen Nature Reserve , one of the largest protected areas in Europe, totaling 562,772 ha (approx. 5,628 km ). About 15% of Sweden lies north of the Arctic Circle . Southern Sweden is predominantly agricultural, with increasing forest coverage northward. Around 65% of Sweden's total land area
8549-453: The objections of Turkey and Hungary, Sweden became a NATO member on 7 March 2024. In recent decades Sweden has become a more culturally diverse nation due to significant immigration; in 2013, it was estimated that 15% of the population was foreign-born, and an additional 5% of the population were born to two immigrant parents. The influx of immigrants has brought new social challenges. Violent incidents have periodically occurred including
8652-485: The population dying between 1349 and 1351. During this period, the cities began to acquire greater rights and were heavily influenced by German merchants of the Hanseatic League , active especially at Visby . In 1397, Queen Margaret I of Denmark (the former daughter-in-law of Magnus Eriksson) established the personal union of Sweden, Norway, and Denmark through the Kalmar Union . However, Margaret's successors, whose rule
8755-529: The population in Viking Age Birka was between 500 and 1000 people. Archaeological finds indicate that Birka still was wealthy in the 9th and 10th centuries. Thousands of graves, coins, jewelry and other luxury items have been found there. The actual age of the kingdom of Sweden is unknown. Determining its age depends mostly on whether Sweden is considered a nation when the Svear (Swedes) ruled Svealand or when
8858-546: The provinces of Scania, Blekinge, and Halland in the southwest of the Scandinavian peninsula, which were part of the Kingdom of Denmark during this period, feudalism never developed in Sweden as it did in much of Europe. As a result, the peasantry remained largely a class of free farmers throughout most of Swedish history. Slavery , also known as thralldom , was not common in Sweden, and the institution gradually diminished due to
8961-643: The right to tax Poland's trade on the Baltic (3.5% on the value of goods), and kept control of many of the cities in Royal and Ducal Prussia (including Piława ( Pillau ), Memel and Elbląg (Elbing). The Swedes later conducted a series of invasions into the Polish–Lithuanian Commonwealth, known as the Deluge . After more than half a century of almost constant warfare, the Swedish economy had deteriorated. It became
9064-508: The same king, namely Erik the Victorious and his son Olof Skötkonung in the tenth century. These events are often described as the consolidation of Sweden , although substantial areas were conquered and incorporated later. In this context, "Götaland" primarily refers to the provinces of Östergötland and Västergötland . The island of Gotland was contested by various groups, including the Danes,
9167-564: The same year, and the United States in October 2005. It also launched awards for retailers of the year based on its customer reviews. In 2006, it announced that it would launch a partnership service with 118 118 , a UK phone based service, to provide prices to people by SMS. This followed an earlier failure to enter the mobile market in 2002 by providing price tracking through the site. In October, MSN announced that their Shopping sites in France and
9270-439: The sea, a river or a lake and the majority of the country's population live in coastal municipalities. Most of Sweden has a temperate climate , despite its northern latitude , with largely four distinct seasons and mild temperatures throughout the year. The winter in the far south is usually weak and is manifested only through some shorter periods with snow and sub-zero temperatures; autumn may well turn into spring there, without
9373-556: The service in the UK and Denmark in 2000. Initially, they had planned to become a pan-European service, but some of these services were closed down in 2002 after poor financial performance. In August 2004, it was acquired by ValueClick , an online media company, for £16 million ($ 29 million) after NewMedia Spark sold its share in the company. Further expansion saw PriceRunner reopen the French office in August 2004, go into Germany in October of
9476-527: The singular form. In Old English the country was known as Swéoland or Swíoríce , and in Early Modern English as Swedeland . Some Finnic languages , such as Finnish and Estonian , use the terms Ruotsi and Rootsi ; these variations refer to the Rus' people who inhabited the coastal areas of Roslagen in Uppland and who gave their name to Russia. Sweden's prehistory begins in
9579-421: The spread of Christianity, the difficulty of obtaining slaves from lands east of the Baltic Sea, and by the development of cities before the 16th century. Indeed, both slavery and serfdom were abolished altogether by a decree of King Magnus Eriksson in 1335. Sweden remained a poor and economically underdeveloped country, where barter was the primary means of exchange. In 1319, Sweden and Norway were united in
9682-526: The success of invading Poland, Charles XII decided to make an attempt at invading Russia , but this ended in a decisive Russian victory at the Battle of Poltava in 1709. After a long march exposed to Cossack raids, the Russian Tsar Peter the Great 's scorched-earth techniques and the extremely cold winter of 1709 , the Swedes stood weakened with a shattered morale and were enormously outnumbered against
9785-459: The third- and fourth-largest lakes Mälaren and Hjälmaren , these lakes take up a significant part of southern Sweden's area. Sweden's extensive waterway availability throughout the south was exploited with the building of the Göta Canal in the 19th century, shortening the potential distance between the Baltic Sea south of Norrköping and Gothenburg by using the lake and river network to facilitate
9888-511: The town of Arboga . During the Riksdag assemblies of 1527 and 1544, under King Gustav Vasa, representatives of all four estates of the realm (clergy, nobility , townsmen and peasants ) were called on to participate for the first time. The monarchy became hereditary in 1544. When Gustav Vasa broke the monopoly power of the Hanseatic League , he was regarded as a hero by the Swedish people. Furthermore, when Sweden did develop, freed itself from
9991-445: The whole structure and organisation of the campaign fell apart with the king's death. Forced to cede large areas of land in the Treaty of Nystad in 1721, Sweden also lost its place as an empire and as the dominant state on the Baltic Sea. With Sweden's lost influence, Russia emerged as an empire and became one of Europe's dominant nations . As the war finally ended in 1721, Sweden had lost an estimated 200,000 men, 150,000 of those from
10094-629: The words Svea and rike , first recorded in the cognate Swēorice in Beowulf ), translates as "realm of the Swedes ", which excluded the Geats in Götaland . The contemporary English variation was derived in the 17th century from Middle Dutch and Middle Low German . As early as 1287, references are found in Middle Dutch referring to a lande van sweden ("land of [the] Swedes"), with swede as
10197-556: Was centred in Denmark, were unable to control the Swedish nobility. In 1520, King Christian II of Denmark , who attempted to restore the Union of Kalmar through military force, ordered the massacre of Swedish nobles in Stockholm, an event known as the " Stockholm Bloodbath ." This atrocity incited the Swedish nobility to renew their resistance, and on 6 June 1523 (now celebrated as Sweden's National Day ), they made Gustav Vasa their king. This
10300-551: Was exposed randomly, and that these exposures only contained non-sensitive data. However, users claimed that they were able to view addresses, phone numbers, and payment details of other people. Identity thieves have used Klarna to commit fraud . They exploited Klarna's buy now, pay later scheme to make purchases with a small upfront payment on a stolen account, flip those goods at a much higher price, and then evade making payments. The company stated that its fraud checks and controls are as strict as those of banks. In March 2022,
10403-608: Was founded around 750 AD as a trading port by a king or merchants trying to control trade. Birka was the Baltic link in the Dnieper Trade Route through Ladoga ( Aldeigja ) and Novgorod ( Holmsgard ) to the Byzantine Empire and the Abbasid Caliphate . It was abandoned c. AD 975 , around the same time Sigtuna was founded as a Christian town some 35 km to the northeast. It has been estimated that
10506-507: Was in 1814, when Sweden by military means forced Norway into a personal union , a union which lasted until 1905. Sweden is a highly developed country ranked fifth in the Human Development Index . It is a constitutional monarchy and a parliamentary democracy, with legislative power vested in the 349-member unicameral Riksdag . It is a unitary state , divided into 21 counties and 290 municipalities . Sweden maintains
10609-411: Was integrated into modernised paper production, the steel industry was concentrated and specialised, and mechanical engineering was robotised. Swedish GDP per capita ranking declined during this time. A bursting real estate bubble caused by inadequate controls on lending combined with an international recession and a policy switch from anti-unemployment policies to anti-inflationary policies resulted in
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