Sweden-headquartered payment software provider Klarna launched a £3m ($4.2m) initiative dubbed Small Business Support Package last week to help 100 UK-based retail small and medium-sized enterprises (SMEs) overcome the impact of the covid-19 pandemic.
The support package includes free use of Klarna’s products for a year along with passes for co-working spaces operator WeWork three months and £15,000 worth of media support to aid customer acquisition. The package equates to over £30,000 of support for each of the hundred businesses.
Alongside the Support Package, Klarna also launched an accelerator programme, featuring a number of free training masterclasses with industry experts from various partners including WeWork and Shopify among others. The first of the sessions was held last week, boasting more than 400 attendees.
The recipients of the package will be selected by 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 for UK, Ireland and emerging markets at WeWork.
Marsh said: “SMEs are at the core of our economy and it is vital that they are given all the tools they need to survive. 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 programme, will inspire and boost confidence across the SME sector.”
