Swedish fintech giant Klarna has raised $639 million in a funding round led by SoftBank’s Vision Fund 2, valuing the startup at ~45.6 billion. The round also witnessed participation from existing investors Adit Ventures, Honeycomb Ventures, WestCap Group and Raison Asset Management. The company intends to use the funds for international expansion and global retail growth. This round brings the total funding raised by the Buy-Now, Pay-Later (BNPL) startup to over $3.7 billion.
Founded in 2005 by Sebastian Siemiatkowski, Niklas Adalberth and Victor Jacobsson, Klarna enables consumers to shop, pay and bank via smart tools including a consumer shopping app, used by consumers and retailers globally.