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Apple is launching Apple Upgrade, a device leasing program backed by Klarna, set to debut on July 28. The service will support most iPhone, Mac, iPad, and Apple Watch models.
Klarna has applied for a U.S. banking licence, marking its boldest move yet in expanding into American markets. The Swedish fintech aims to gain regulatory authority to offer a broader range of financial services in the U.S.
Klarna has announced a $1.7 billion deal to free up capital for lending as its stock has plummeted 76% since its IPO. The Swedish fintech is looking to strengthen its financial position amid macroeconomic headwinds and investor concerns.