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Swedish Klarna secures $1 bn in funding round for global expansion
08 Mar '21
1 min read
Pic: Klarna
Swedish global retail bank, payments and shopping service Klarna recently announced it has secured $1 billion in an equity funding round to accelerate global expansion and further capture retail growth. The round, which was oversubscribed four times, included a combination of new and existing investors and closed at a post-money valuation of $31 billion.
That made Klarna the highest-valued private financial technology company in Europe and the second highest worldwide, a press release from the company said.
Klarna will pledge 1 per cent of the capital raised to a new initiative that focuses on key sustainability challenges around the world. The initiative will be formally launched on April 22 on World Earth Day.
In 2020, the Klarna app was consistently ranked among the Top 10 app downloads in the United States.
Klarna’s more than 250,000 retail partners include Macys, Etsy, Sephora, Ralph Lauren and Urban Outfitters.
That made Klarna the highest-valued private financial technology company in Europe and the second highest worldwide, a press release from the company said.
Klarna will pledge 1 per cent of the capital raised to a new initiative that focuses on key sustainability challenges around the world. The initiative will be formally launched on April 22 on World Earth Day.
In 2020, the Klarna app was consistently ranked among the Top 10 app downloads in the United States.
Klarna’s more than 250,000 retail partners include Macys, Etsy, Sephora, Ralph Lauren and Urban Outfitters.
Fibre2Fashion News Desk (DS)
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