Klarna, a Swedish global payments provider, retail bank, and shopping service, raised USD$639m in equity funding.
The round, which post-money valued Klarna at USD 45.6 billion, was led by SoftBank’s Vision Fund 2 with participation from existing investors Adit Ventures, Honeycomb Asset Management and WestCap Group, Klarna’s other investors include Sequoia Capital, SilverLake, Dragoneer, Permira, Commonwealth Bank of Australia, Bestseller Group, Ant Group, Northzone, GIC – Singapore’s sovereign wealth fund – as well as funds and accounts managed by BlackRock and HMI.
The company intends to use the funds for international expansion and global retail growth.
Led by Sebastian Siemiatkowski, Founder and CEO, Klarna enables consumers to shop, pay and bank via smart tools including a consumer shopping app, used by 18m customers worldwide as well as at over 250,000 retailers globally. In the app, consumers can browse and shop at any brand online with Klarna payment options, allowing them to pay immediately or later, manage spending and available balances, add favorite items to collections, initiate refunds, access tailored discounts, receive price-drop notifications, track deliveries intelligently and join Klarna’s loyalty program, Vibe.
Klarna is now live with 24 of the top 100 US retailers across 17 markets. Over 250,000 global retail partners, including H&M, Saks, Sephora, Macys, IKEA, Expedia Group, Samsung, ASOS, Peloton, Ralph Lauren, Abercrombie & Fitch, Nike and Shein have enabled Klarna’s shopping experience online and in-store.