STOCKHOLM (AFP) – Swedish payment solutions provider Klarna said yesterday it had raised USD650 million (EUR547 million) in a funding round, putting the estimated value of the company past USD10 billion for the first time.
Launched in 2005, Klarna now offers an app which provides consumers with an easy platform to shop with retailers, automatically giving them four months to pay for purchases and offering plenty of promotions.
Klarna also offers businesses online payment solutions for their proper sites, handling both credit card payments and invoices.
Klarna’s app has more than 12 million monthly users worldwide and the firm said it has over 200,000 retail partners.
According the company, the new “post money valuation of USD10.65 billion” means Klarna is the highest valued fintech firm in Europe, and fourth worldwide.
Currently operating in 17 countries, the company employs some 3,500 people.