Klarna, payment provider and bank, popular for its ‘buy now, pay later’ services, has raised 460 million US dollars in an equity funding round to become Europe’s largest private fintech firm, valued at 5.5 billion US dollars.
The Swedish company, which works with 130,000 merchants globally including H&M, Asos, Michael Kors, Zara, Topshop, and Superdry, stated that the funding would allow it to continue its “rapid rise” in the US market, where it is currently growing at an annual rate of 6 million new US consumers.
Klarna was founded in 2005 in Stockholm, Sweden with the aim of making it easier for people to shop online. In the last 14 years, technology has evolved, excited and transformed the world around us, yet our mission remains as relevant as ever, to make paying as simple, safe and above all, smoooth as possible. Klarna is now one of Europe’s largest banks and is providing payment solutions for 60 million consumers across 130,000 merchants in 14 countries. Klarna offers direct payments, pay after delivery options and instalment plans in a smooth one-click purchase experience that lets consumers pay when and how they prefer to.