Klarna Is Europe’s Most Valued Private Fintech After $639m funding Round

On the heels of its last funding round that happened about three months ago, European fintech Klarna has announced that it has raised the sum of $639 million in another funding round which brings the company is now at a post-money valuation of $45.6 billion.

Before Klarna announced the latest funding round, rumours had it that the fintech had raised more money at a valuation of around $40 million but the fintech startup refused to make any comment about it.

Klarna, known fully as Klarna Bank AB, is a Swedish fintech company that provides online financial services such as direct payments, post-purchase payments, and online storefronts. The fintech is known mostly for its buy-now-pay-later scheme which allows people to make purchases of goods and services and pay for them later. Klarna, founded by Sebastin Siemiatowski, Niklas Adalberth, and Victor Jacobson, has its headquarters in Stockholm, Sweden. The company serves different areas and countries across Europe and has an approximated amount of 3000 employees with most of them working at the company’s headquarters.

The company has recorded quite some milestone achievements. For instance, in 2011, about 40 percent of all e-commerce sales in Sweden were done through Klarna’s platform, and as of the beginning of this year, the company was valued at $31 billion.

The latest funding round was led by SoftBank’s Vision Fund 2. Softbank also recently revealed that it was investing about $700 million in India’s biggest online marketplace Flipkart through its Vision Fund 2. Other investors that participated in the latest funding round include; Adit Ventures, Honeycomb Asset Management, and WestCap Group.

According to TechCrunch, the new valuation represents a 47.3 percent increase over Klarna’s post-money valuation of $31 billion in early March when it raised $1 billion which was also a 330 percent increase over its $10.6 billion valuation at the time of its $650 million raise in September of 2020.

With its post-money valuation of $45.6 billion, Klarna has become the highest-valued private fintech startup in all of Europe.

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