swedish watchdog to investigate klarna bank

In 2020 it processed a total of $53bn in volume and hit over a billion in revenue. In its most recent results, the company posted more than $18.1bn in volume in the first quarter compared with $9.9bn in the same period a year ago. I’m very proud of the investors who are supporting Klarna’s ambition to challenge these outdated models to empower consumers with fair, transparent, and convenient products to help them bank, shop and pay each day.” “Klarna's more transparent and convenient alternatives align with evolving global consumer preferences and drive worldwide growth. “Consumers continue to reject interest-and fee-laden revolving credit and are moving toward debit while simultaneously seeking retail experiences that better meet their needs,' said Sebastian Siemiatkowski, Klarna founder and chief executive. Read more: COVID-19 will permanently change how we shop, says Klarna CEO

It comes as customers are demanding smarter alternatives to shop, bank and pay as the shift to online continues. Previous backers include Sequoia Capital, SilverLake, Dragoneer, Ant Group, H&M, money manager BlackRock, and even rapper Snoop Dogg.Īs part of the Give One initiative established by Klarna earlier this year, 1% of the equity raised will be directed to projects supporting planet health, the company said. Its market cap represents a 47.3% increase over Klarna’s post-money valuation of $31 billion in early March, and means the company remains the highest-valued private fintech in Europe, and the second-highest worldwide. The buy now, pay later company revealed that Japan’s Softbank’s ( SFTBY) Vision Fund 2 led the latest round, with additional participation from existing investors Adit Ventures, Honeycomb Asset Management and WestCap Group. Swedish fintech giant Klarna now has a valuation of $45.6bn (£32.2bn) after it raised a fresh $639m in additional funding just over three months after its last funding round. Photo: Thiago Prudencio/SOPA Images/LightRocket via Getty Images

The buy now, pay later company revealed that Japan’s Softbank’s Vision Fund 2 led the latest round, with additional participation from existing investors Adit Ventures, Honeycomb Asset Management and WestCap Group.

Swedish watchdog to investigate klarna bank