"Klarna, Europe’s highest valued fintech startup, raises $650M funding round at $10.6 billion valuation"

From Tech Startups, September 15:

The last time we wrote about Klarna was back in February when the Swedish unicorn startup reported its first annual loss after many years of profitability. Klarna, which provides e-commerce payment solutions for merchants and shoppers, reported a loss of 1.1 billion Swedish krona ($113 million) on revenues of 7.2 billion krona from January to December 2019.

Now, it seems the Snoop Dogg-backed startup is back on track. Today, the Swedish online payments startup announced it has raised $650 million in an equity funding round, valuing the company at $10.6 billion and officially making Klarna Europe’s highest valued private fintech company and the 4th highest worldwide.

The round was led by Silver Lake, with participation from GIC – Singapore’s sovereign wealth fund – as well as funds and accounts managed by BlackRock and HMI Capital. Klarna said it will use the fresh capital infusion to further invest in its unique shopping offering, continue to grow its global presence, and accelerate its strong momentum across all markets, especially in the US where the company is growing particularly rapidly and now has more than 9 million consumers....

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