Klarna raised $639 million led by SoftBank’s Vision Fund 2
Klarna, a Stockholm, Sweden-based provider of payment and shopping services, announced that it raised $639 million a new capital funding round.
The deal was orchestrated by the Softbank Group, a new investor in the company, joined by Adit Ventures, Honeycomb Asset Management, and WestCap Group. The transaction is said to value Klarna at $45.6 billion.
Klarna was founded in 2005 by CEO Sebastian Siemiatkowski, providing a service allowing users to make online purchases with retail partners in four monthly installments with no fees or interest charges when they pay on time.
The company has 18 million customers worldwide, 250,000 retailers globally producing over $18.9 billion in Q1 2021, 100% yoy.
Klarna's valuation jumped 4X from 2019 (10.6bn vs 45.6bn) and the company is still traded at low multiples.