STOCKHOLM, 10 June - Swedish payments firm Klarna has raised $639 million from a group of investors led by SoftBank's Vision Fund II that raises its valuation to about $46 billion - higher than several of the major banks in the region.
Klarna, which allows shoppers to purchase through its merchant partners and settle their dues in stalments via buy now, pay in March became Europe's most valuable startup when a $1 billion revenue was valued at $31 billion.
The current round was led by SoftBank, and joined by existing investors such as Adit Ventures, Honeycomb Asset Management and WestCap Group.
Other investors of Snoop Dogg include Sequoia Capital, NorthZone, Silver Lake, Dragoneer, Permira, Commonwealth Bank of Australia Bestseller Group, Ant Group, Selkham, BlackRock and GIC Singapore's sovereign wealth fund.
Klarna reported last month that Reuters was close to raising a new round of funding at a valuation close to $50 billion.
The company, whose chief executive is Sebastian Siemiatkowski, is one of the largest players in the global BNPL sector with over 90 million users worldwide and processes 2 million transactions a day.
The company is expected to make a stock market debut either later in the year or next year. Siemiatkowski earlier told Reuters that he prefers direct listing as the companies like Spotify did, which enable them to take their companies public.
We are very happy investors and we could take our shares publicly if we wish so we don't have any stress to take the company public, says Hans Otterling, an early investor in Northzone.
Klarna, founded in 2005, took eight years to reach a valuation of $1 billion, but less than 12 months to get from being valued at $5.5 billion to within a touching distance of $50 billion.
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