Klarna has successfully secured $639 million in a funding round spearheaded by SoftBank’s Vision Fund 2, bringing its valuation to an impressive $45.6 billion.
A robust lineup of investors contributed to this round, including Adit Ventures, Honeycomb Asset Management, WestCap Group, Sequoia Capital, SilverLake, Dragoneer, Permira, CBA, Bestseller Group, Ant Group, Northzone, GIC, along with various funds and accounts managed by BlackRock and HMI.
This new funding follows closely on the heels of a $1 billion investment just three months prior, which valued Klarna at $31 billion. With this latest round, the Swedish fintech remains not only Europe’s highest-valued private financial technology firm but also the second-most valuable globally, trailing only behind Stripe.
Klarna’s shopping app serves tens of millions of consumers and connects with over 250,000 retailers around the world. In the first quarter, the company reported a gross merchandise value exceeding $18.9 billion, largely attributed to exceptional growth within the U.S. market. Currently, Klarna has partnered with 24 of the top 100 retailers in the U.S., surpassing its competitors.
The newly acquired capital will be directed towards further international expansion. Klarna is currently operational in 17 markets, with its recent launch in France marking a significant milestone.
Sebastian Siemiatkowski, CEO of Klarna, commented, “Consumers are increasingly moving away from interest-laden revolving credit in favor of more straightforward debit options, while also seeking retail experiences that better align with their needs. Klarna’s transparent and user-friendly alternatives resonate with changing global preferences and are fueling our growth worldwide.”
Additionally, as part of its GiveOne initiative, Klarna pledges to allocate 1% of the equity raised to support initiatives aimed at enhancing planetary health.