Klarna, a Swedish fintech leader in buy-now-pay-later services, raised $639 million in a funding round led by SoftBank, achieving a valuation of $45.6 billion.

Target Information

Klarna is a leading Swedish fintech company that specializes in 'buy now, pay later' (BNPL) services. The firm recently secured $639 million in a funding round led by SoftBank, which has elevated its valuation to $45.6 billion. With a mission to revolutionize the financing of shopping purchases, Klarna allows consumers to make interest-free payments over monthly installments, a model that has gained significant traction since the onset of the COVID-19 pandemic.

As one of the largest BNPL providers in Europe, Klarna has established itself not only as a fintech leader but also as a vital competitor to traditional credit card services. The recent investment by notable entities such as Adit Ventures, Honeycomb Asset Management, and WestCap Group reaffirms its status as Europe's top fintech unicorn and the second-largest fintech startup globally, following Stripe.

Industry Overview

The fintech industry in Sweden has been experiencing rapid growth, propelled by increasing consumer demand for alternative payment options and digital banking solutions. The COVID-19 pandemic has catalyzed a shift in consumer behavior, with m