Fintech firm Klarna is raising $1 billion at a $31 billion valuation, sources say
Summary
The company is raising a bumper round ahead of a potential blockbuster stock market listing that would be a boon to some of its earliest venture capital investors, like Atomico and Sequoia. It got a big boost last year from heightened demand for BNPL plans, fueled in part by coronavirus lockdowns that accelerated a shift toward online shopping. BNPL plans are often touted as an alternative to credit cards, but consumer advocacy groups like Which warn they often entice people — particularly the young — to spend more than they can afford. Siemiatkowski said a stock market listing could happen as soon as this year, but the firm is waiting until its new chief financial officer, former HSBC executive Niclas Neglen, has settled before making any official plans. But he ruled the possibility of merging with a special purpose acquisition company, or SPAC, a listing method that has gained significant traction on Wall Street recently.
Funding
Review available funding amount, funding date, investors, and linked company information related to Fintech firm Klarna is raising $1 billion at a $31 billion valuation, sources say in the interactive ISVWorld profile.