Swedish fintech Klarna, specialized in payment solutions and split purchases, has closed a new round of financing of 639 million dollars (525 million euros) that has triggered its valuation by 47% in three months, reaching 45,600 million dollars (37,500 million euros), the group reported. The increase in valuation is even greater when compared to the month of September, nine months ago. At that time, the company reported that it had closed a financing round that valued it at 10,650 million dollars (8,752 million euros).
The round of 639 million reported yesterday has been led by Vision Fund, of the Japanese conglomerate SoftBank, with the participation of former investors in the company, such as Adit Ventures, Honeycomb Asset Management or WestCap Group. The objective of this round is to finance international expansion and continue to capture “growth” in the retail division sector.
Klarna’s other shareholders include investment funds Sequoia Capital, Silver Lake, Dragoneer, Permira, Commonwealth Bank of Australia, Bestseller Group, Ant Group, Northzone, BalckRock, HMI and Singapore sovereign wealth fund GIC. The Spanish fund Mundi Ventures, based in Madrid, is also an investor in Klarna, its second unicorn in the portfolio, after Wefox.
The Swedish startup has 500 jobs in Spain, in Madrid. According to the company, it has 18 million customers of its application worldwide and is associated with 250,000 merchants. In the first quarter of the year, Klarna recorded a transaction volume (GMV, in English) of 18.9 billion dollars (15,531.8 million euros), almost double that of a year earlier. With this latest round, Klarna has become the most valued fintech on the European continent and outperforms Swedish companies such as Spotify and Ericsson. This company confirms the potential of European technology companies. This week Northvolt raised $ 2.75 billion to $ 11.75 billion.
In 2020, European startups attracted $ 52 billion of investment. Only in the first half of this 2021, more than 45,000 million.