Fintech Klarna Reportedly Gets $6.5B Valuation, Giving New Meaning to ‘Below Round’ Phrase

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In a sign of the times, Swedish giant Klarna buy now, pay later is reportedly close to signing a new funding round that will cut its valuation to $6.5 billion – about 7x from what the company was rated in June 2021.

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Wall Street Magazine informed Today, citing anonymous sources, Klarna was “in talks to raise about $650 million primarily from existing investors led by Sequoia Capital.” Sequoia chairman Michael Mortis is also chairman of the payments giant.

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The deal is still in development, according to the Journal. But if it is completed, it will be a big downfall for Klarna, who was on the rise last year when attracted $639 million. in a round led by SoftBank’s Vision Fund 2 with a $45.6 billion valuation.

Klarna makes a big push to the United States competing with similar publicly traded Affirm. In early June, Klarna said its “U.S. customer base has grown over 65% over the past year to over 25 million consumers.” The entire BNPL (buy now, pay later) segment has been hit hard of late, but the huge drop in Klarna’s value nonetheless gives new meaning to the phrase “down the circle.”


Credit: techcrunch.com /

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