Kustom BidCo AB (publ) ("Kustom" or the "Company") hereby publishes its year-end report for 2024. The report is available on the Company’s website:https://kustom.co/investors. Below is a summary of the report.
Kustom exceeds operational objectives and delivers financial results according to plan.
Kustom BidCo AB group, including fully owned subsidiary Kustom AB, has completed its first quarter as an independent company, reporting stable business performance with both revenue and profitability in line with expectations.
The strategic partnership with Stripe is progressing as planned, and the migration from Klarna to Kustom’s upgraded platform is ahead of schedule.
Net revenue amounted to SEK 378.0m, the operating profit reached SEK 87.3m, and net profit for the period amounted to SEK 41.2m.
On 1 October 2024, Kustom BidCo AB acquired all shares in Larkan Xll AB, commonly known as Klarna Checkout, now Kustom AB. Since then, the company has undergone a significant transformation to establish itself as a merchant-first, standalone leader in checkout solutions.
Highlights during the fourth quarter:
- Successfully processed the first merchant transaction on Kustom’s new, upgraded platform, on 20 December 2024, marking a key milestone in our transition.
- Appointed Frank Hoffman as CTO and Erik Olofsson as COO to enhance Kustom’s technological and operational capabilities.
- Established dedicated teams for product development and innovation, commercial operations with a local presence in Sweden, Norway, and Finland, and customer support.
Sustained business growth and merchant acquisition
Kustom’s business growth was in line with expectations, with steady progress across all key areas. Merchant acquisition is proceeding as planned, with nearly 600 new transacting merchants onboarded in Q4, along with several enterprise contract renewals such as Apotea, First Camp, Dormy and Best of Brands.
During the quarter, Kustom has maintained a strong focus on the carve-out and build-up process, ensuring a seamless merchant transition to an upgraded technical platform, organizational expansion, and merchant relations.
“Our merchant-first approach remains at the core of everything we do. Continuous iteration and collaboration with our customers are crucial as we prepare to scale further as an independent platform. This independence allows us to introduce new payment methods, omnichannel capabilities, strengthen our global offering and drive innovation, all in line with our vision - to orchestrate and simplify commerce for our merchants”, says Kamjar Hajabdolahi, CEO of Kustom BidCo AB.
About Kustom
Kustom is a fintech company offering one of Europe’s leading checkout solutions. With the most efficient and customizable product on the market, we help merchants tailor their checkout to fit their shoppers’ needs. By gathering innovative and scalable features, Kustom ensures high conversion rates and drives repeat purchases. Today, Kustom has 24,000 connected merchants with transactions in 170+ countries.
For further information, please contact:
investors@kustom.co
Press inquiries:
press@kustom.co
This information is such information that Kustom BidCo AB (publ) is obliged to make public pursuant to the EU’s Market Abuse Regulation (596/2014/EU). This information was submitted for publication, through the agency of the contact persons above, on February 28th, 2025, at 08:00 CET.