Klarna, a leading global retail bank, payments and shopping service, today announced it has secured $1 billion USD in an equity funding round to accelerate international expansion and further capture global retail growth.
The 4x oversubscribed round included a combination of new and existing investors and closed at a post-money valuation of $31 billion USD, making Klarna the highest-valued private fintech in Europe and the second highest worldwide(1).
The fresh capital injection comes just six month’s after Klarna’s last $650 million funding round, which gave it a $10.65 billion price tag.
Sebastian Siemiatkowski, co-founder and CEO of Klarna: “Consumers want transparent products to help them bank, shop and pay that reflect the way they live their lives, not just outdated traditional models. I believe our industry has a responsibility to help in some way solve global sustainability issues and I hope others will join Klarna in our ambition.”
In 2020, the Klarna app was consistently ranked among the Top 10 app downloads in the United States. Consumers can browse and shop at any brand online with Klarna payment options, track spending and available balances, add favorite items to wishlists, access tailored discounts, receive price-drop notifications, track deliveries intelligently and join Klarna’s new loyalty program, Vibe.
With global retail sales expected to reach $27 trillion by 2022 (2) Klarna says „is uniquely placed to meet the continued accelerated demand both online and in-store”.
Klarna which has more than 250,000+ retail partners, registered strong business results in 2020: volume and revenue for grew 46% and 40% year-on-year to more than $53 billion and $1 billion respectively.
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(1) https://www.cbinsights.com/research-unicorn-companies
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
