Klarna — European private fintech company

Founded in Stockholm, Sweden, Klarna is Europe's most valuable private fintech company, providing products and services in the payment, social shopping and personal finance areas.

Founded in 2005, Klarna provides a simpler, more affordable and smarter payment method than credit cards. Using its APP, consumers can shop from any store or brand in installments. On the APP, consumers can also add their favorite products to their wishlist, enjoy unique discounts, set price reduction notifications, and intelligently track consumption and delivery.

Klarna is now one of the largest in Europe, providing payment solutions to 90 million consumers at more than 200,000 merchants in 17 countries. Klarna offers direct debits, post-delivery payment options and installment plans in a seamless one-click purchase experience, allowing consumers to pay when and where they want.

Before 2016, Klarna received multiple investments from Sequoia Capital, DST Global and General Atlantic.

The official website shows that Klarna Group was established when the company acquired SOFORT in 2014. Klarna is supported by investors such as Sequoia Capital, Bestseller, Permira, credit card payment giant Visa and London venture capital Atomico.

Klarna’s financing history:

In June and July 2017, Klarna received three investments in two months. They were from Brightfolk, a platform run by fashion tycoon Anders Holch Povlsen, credit card payment giant Visa, and private equity investment company Permira. After the third round of financing, media reports said Klarna's overall valuation was as high as $2.5 billion.

On October 9, 2018, Klarna received another $20 million in financing from fashion retail giant H&M.

In August 2019, Swedish unicorn fintech company Klarna completed its latest round of massive financing of US$460 million, which it said would be used to enter the US market.

In September 2020, Swedish payment platform Klarna received a new round of financing of US$650 million, with a post-transaction valuation of US$10.65 billion, becoming the highest-valued (unlisted) fintech startup in Europe and the fourth-highest-valued in the world. This round of financing was led by Silver Lake, with participation from Singapore's sovereign wealth fund GIC and others. Other investors in Klarna include Sequoia Capital, Ant Group, Commonwealth Bank of Australia, etc.

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