The “buy now, pay later” company is increasing its expansion and growth again with cash from Japan’s SoftBank.
Klarna is now valued at $ 45.6 billion after another major injection of capital, this time from SoftBank.
The ‘buy now, pay later’ startup has raised an additional $ 639 million in funding led by SoftBank’s Vision Fund 2, with Adit Ventures, Honeycomb Asset Management and WestCap Group also participating.
The round comes just a few months after Klarna raised $ 1 billion. The strong valuation means that the Swedish fintech retains its position as the most valuable private fintech company in Europe and the second in the world after Stripe.
Klarna said this latest investment is to support further internationalization. It is the largest buy now, pay later operator where customers get credit on retail purchases that will be repaid in stages, interest-free, in Europe and is making headway in the US market.
According to the company, it has 18 million customers and 250,000 retailers who use its services. Generate income from fees charged to merchants. It reported more than $ 18.9 billion in gross merchandise value in the first quarter of this year.
“Consumers continue to reject interest and revolving fee credit and are moving to debit while looking for retail experiences that better meet their needs,” said Klarna CEO Sebastian Siemiatkowski.
“Klarna’s more transparent and convenient alternatives align with the changing preferences of global consumers and drive global growth. I am very proud of the investors who support Klarna’s ambition to challenge these outdated models to empower consumers with fair, transparent and convenient products that help them bank, shop and pay every day. “
The Swedish company is a regulated bank, but both it and its rivals face a growing wave of scrutiny from regulators. particularly in the UK.
“Klarna’s growth is based on a deep understanding of how consumer buying behaviors are changing, an evolution that we believe is accelerating,” said Yanni Pipilis, Managing Partner of SoftBank Investment Advisers.
“Klarna has already successfully expanded into the US and we are excited to continue supporting the team to bring the next generation of financial services to new markets around the world.”