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Klarna is Europe's largest fintech company as it hits $5.5 billion in value

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  • Economy
  • 3 months ago
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Swedish fintech start-up Klarna has become the largest of its kind in Europe following a fresh round of funding, hence giving it a value of $5.5 billion.

Its “buy now and pay later” scheme, raised $460 million from companies such as Dragoneer, the Commonwealth Bank of Australia and its funds managed by BlackRock.

Klarna’s valuation has risen from $2.5 billion at the start of 2019 to $3.5 billion in April when shareholders Hennes & Mauritz, Sequoia Capital and Permira invested further funds in order to bring today’s evaluation of $5.5 billion, taking it to the eighth spot as the most valuable private fintech globally. 

Chief executive, Sebastian Siemiatkowski, did also hint to the likelihood of an IPO.

“At this point of time, it’s more likely than it has been previously. I definitely think it will happen. But it’s not like there’s a formal decision. Right now the whole company is just focused on making sure we are growing fast.”  

“In many ways, we have most of the things in place that we need. It’s more of a question of timing and focus. We have such high growth in the US. An IPO is a lot of work.”

 

 

Source: Smart Trend Team