Payment processing platform Klarna announced on Tuesday it secured $650 million through its latest equity funding round, bringing its money valuation to $10.65 billion. The funding round is led by Silver Lake
Founded in 2005, Klarna offers products and services to consumers and retailers within payments, social shopping, and personal finances. It enables consumers to make open payments quickly, easily, and securely; immediately, delayed, or in installments. Klarna works with over 205,000 retailers including in Germany H&M, Spotify, MediaMarkt, Expedia, Nike, and Deutsche Bahn.
Klarna revealed that the funding will help it further invest in its unique shopping offering, continue to grow its global presence, and accelerate its momentum across various markets, especially in the U.S., where the company is notably growing particularly rapidly and now has more than nine million consumers. Speaking about the investment round, Sebastian Siemiatkowski, Co-Founder and CEO of Klarna, stated:
“Klarna’s unique proposition, consumer preference and global retailer network will prove an excellent platform for further growth. The Klarna team is honoured to welcome such world class investors to support our mission to become the world’s favourite way to shop.”
Egon Durban, Co-CEO and Managing Partner, and Jonathan Durham, Managing Director, of Silver Lake, concluded:
“Klarna’s retail partners benefit from incremental traffic and dramatically improved customer conversion. Consumers love Klarna for its differentiated app-based shopping experience and for their flexible and transparent payment options. We are excited to invest in the company and partner with Sebastian and his talented team at this dynamic time to help accelerate Klarna’s remarkable growth and success worldwide.”
Numis notably acted as exclusive financial advisor and placement agent to Klarna.