Settlement company Klarna was worth £ 32 billion after raising new funding to support its expansion
Settlement firm Klarna is currently worth £ 32 billion after raising new funding to fund its expansion.
Millennial’s popular shopping credit business in their 20s and 30s has raised £ 451.7 million in new funding from SoftBank and US venture capital firms Adit Ventures, Honeycomb Asset Management and Westcap Group.
This means that Klarna’s value has risen from £ 22 billion in March to £ 7.8 billion in September last year, making it the second most valuable unlisted financial technology company in the world.
Whip Round: Settlement firm Klarna has raised £ 451.7 million in new funding from SoftBank and US venture capital firms Adit Ventures, Honeycomb Asset Management and Westcap Group.
The company allows consumers who shop online to pay in installments for their products, or after the purchase arrives at the post, so they have time to try it first.
However, founded in Sweden, Klarna has been criticized in the UK for inviting young people into unsustainable debt.
Parliamentarians and regulators are worried about shoppers using Klarna without risk, and after a few months they realize they are paying off debt they can’t afford.
CEO Sebastian Siemiatkowski argues that his company is a good force and that using Klarna, which does not charge interest or delinquency, is far better than using a credit card.
Siemiatkowski, the father of the three, said: ‘
Klarna said 1% of the money raised from investors will be “directed to initiatives that support global health.”
The company earns most of its money by partnering with paid retailers. We partner with more than 13,500 companies in the UK, including Asos and H & M.
With 90 million users worldwide and 14 million in the UK, last year’s operating profit was up 44% to £ 777m.
After raising funds for expansion, settlement company Klarna was worth £ 32 billion
Source link After raising funds for expansion, settlement company Klarna was worth £ 32 billion