Swedish purchase now, pay later agency Klarna climbs to high fintech rating after being valued at £8bn
Swedish funds agency Klarna has change into Europe’s highest-valued fintech agency
Purchase now, pay later agency Klarna has change into Europe’s highest-valued fintech agency, at £8billion.
The funds outfit has raised £500million in a funding spherical, led by big-name traders reminiscent of Singapore’s sovereign wealth fund GIC and Blackrock, and overtaken digital financial institution Revolut as Europe’s most dear fintech outfit.
The Swedish firm lets buyers on 200,000 on-line websites reminiscent of Asos and H&M, purchase up-front and pay in instalments.
Money-strapped millennials benefit from the freedom it permits them although private finance consultants have warned the agency may very well be tempting younger folks into harmful ranges of debt.
Klarna has over 12m customers, and revenues rose greater than a 3rd to £356million within the first six months of 2020.