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The Swedish agency mentioned in an announcement Tuesday that it has raised $650 million from buyers, which additionally embrace Singapore’s sovereign wealth fund (GIC) and funds managed by BlackRock. The firm mentioned it is now essentially the most worthwhile non-public monetary know-how enterprise in Europe.
Klarna mentioned it should use the funds to take a position additional into the enterprise and develop its world presence, particularly within the United States, the place greater than 9 million shoppers have used its companies.
In the United States, Klarna competes with rivals together with Affirm and Afterpay, which is branded Clearpay in Europe. “Buy now, pay later” companies attraction particularly to youthful shoppers, who regularly store on-line and might not have bank cards.
The Klarna app has greater than 12 million month-to-month lively users worldwide, with 55,000 each day downloads, in line with the corporate. It has benefited from a surge in e-commerce throughout the coronavirus pandemic, including about 200 new retailers each day within the first half of 2020 and promoting items worth $22 billion, a 44% improve on the identical interval final yr.
“Klarna is one of the most disruptive and promising fintech companies in the world, redefining the e-commerce experience for millions of consumers and global retailers, just as e-commerce growth is accelerating worldwide and rapidly shifting to mobile,” Silver Lake’s co-CEO Egon Durban mentioned in an announcement.
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