Klarna to reportedly secure USD 500 mln investment

Wednesday 10 February 2021 13:55 CET | News

Buy-now-pay-later company Klarna has allegedly closed a USD 500 mln fundraise with a valuation of between USD 25-30 billion, as stated by AltFi

Klarna declined to respond on the rumour, with a spokesperson for the BNPL fintech adding that it ‘doesn’t comment on speculation,' according to AltFi. The report comes at a crucial time for the buy-now-pay-later sector with soaring demand for its services but Klarna and other BNPL fintechs have been under the microscope as of late as more people join the call for tighter regulation in the sector.

At the new valuation, Klarna will become the second European fintech to have tripled its valuation after payment processor did so twice, first in June 2020 and more recently in January 2021. The fresh injection of capital has also reportedly accelerated the Sweden-based fintech’s plans to IPO, with Klarna now looking to list within the next one to two years.

Including the most recent rumoured funding round, Klarna has raised USD 1.3 billion in the past year alone, following a USD 650 million funding round in September 2020 and a USD 200 million investment from the Commonwealth Bank of Australia in February 2021 as it looked to help bolster the fintech’s position down under.  

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Keywords: Klarna, investment, BNPL, buy now pay later, IPO, fintech
Categories: Banking & Fintech
Countries: Sweden
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Banking & Fintech

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