Klarna Bank AB is raising funds valuing the Swedish fintech startup at around $31 billion, roughly tripling the company’s valuation after its most recent round in September, according to Bloomberg.
A $31bn valuation for Klarna would represent a huge increase in European fintech’s market size with the firm at roughly the same current valuation as Stripe and more than Revolut, Monzo, Starling Bank and N26 combined.
The Stockholm-based company is raising around $800 million and up to $1 billion, the people said, adding the round could be announced in the coming days. Existing investors are participating ahead of a potential public listing next year, said the people, who asked not to be identified because the matter is private.
The fresh funding would recrown the Swedish company as Europe’s most valuable startup after payments business Checkout.com was valued at $15 billion. Klarna in September had brought in $650 million in equity funding from investors, then valuing it at $10.65 billion.
The Swedish company’s success in online payments has made it an important challenger to traditional credit cards and firms like PayPal Holdings Inc. and Square Inc. The firm has also benefited from an accelerated shift to e-commerce during the pandemic.
But Klarna and other buy-now-pay-later services are increasingly coming under scrutiny from regulators on concerns they allow customers to spend more than they can afford.
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:
