Swedish FinTech Klarna has raised $ 639 million in a new funding round led by Japanese company SoftBank.
Buy Now, Pay Later (BNPL) companies claim that the overall valuation of their investment can be up to $ 45.6 billion.
The round was led by SoftBank Vision Fund 2 with additional participation by existing investors Adit Ventures, Honeycomb Asset Management and WestCap Group.
Klarna says the funds will be used to support international expansion and drive its global retail growth.
Sebastian Siemiatkowski, Founder and CEO of Klarna, said:
“I challenge these outdated models and support Klarna’s ambition to provide consumers with fair, transparent and convenient products that help them bank, shop and pay daily. I am very proud of the investors. “
The BNPL model adopted by Klarna has become more and more popular in recent years. The company’s presence extends to 17 countries and 250,000 retail partners. Among them are brands such as H & M, IKEA, Samsung, Nike and Macy’s.
Yanni Pipilis, Managing Partner of SoftBank Investment Advisers, said: “Klarna’s growth is based on a deeper understanding of how consumers’ buying behavior is changing.
“Klarna has already successfully expanded into the United States and is pleased to continue to support the team to provide next-generation financial services to new markets around the world.”
As part of the GiveOne initiative founded by Klarna earlier this year, 1% of the shares raised will go to the Green Initiative to support global health.
Klarna Raises $ 639 Million in SoftBank-led Financing Round
Source link Klarna Raises $ 639 Million in SoftBank-led Financing Round