20 May 2022

Klarna set to seek funding as it reaches 150mn active customers

Written By FinTech Alliance

Klarna set to seek funding as it reaches 150mn active customers

Buy now, pay later business Klarna has announced it’s reached a milestone of 150mn active customers, while the Wall Street Journal reports it could be seeking another funding round.

In Brief:  

  • Klarna has reached 150mn active users and will celebrate with a three-day deal event across 19 global markets.  
  • Meanwhile, the WSJ says it is seeking around $1bn funding.  
  • This would leave the business with a valuation of $30bn.  

What does this mean?  

Klarna is celebrating the positive news that over 150mn people use its platform to pay or access credit, however the reported funding round — which is unconfirmed as of yet — would see the business’ valuation drop to $30bn from a previous Bloomberg estimate that the firm would be valued at around $50bn at its next round. The business is still loss making but remains backed by giant like SoftBank and Sequoia.  

Read more here.  

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