Klarna Firm Reportedly Backed by SoftBank for the Funding Round

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According to the latest report, Klarna has carried out a successful funding round. Klarna is a “buy now pay later” company that is based in Europe. The company has confirmed that after the successful funding round, the valuation of the company has experienced a significant rise.

The reports have confirmed that as a result of the funding round, the market capitalization (valuation) of the company has increased to $40 billion. The information has been revealed by a source, requesting to keep the identity anonymous.

The source has also confirmed that the funding round for Klarna was backed by a huge conglomerate company, SoftBank. Apart from SoftBank, many other investors have backed the funding round, making it a huge success.

Business Insider is the firm that has collected the details from the inside source and has shared them with the public on Thursday, May 27, 2021. The news reporting firm has also claimed that the company, Klarna, is also in the process of going public.

Therefore, the public will soon be hearing from Klarna where it will confirm its stock listing at the stock exchange.

The inside source was unable to confirm how many funds were raised from the funding round. However, the source has confirmed that the funding round was able to raise less than $1 billion for Klarna with the backing of investors.

Klarna had already carried out a funding round back in March 2021. From the particular round, Klarna was able to raise $1 billion, but this time, the raised funds are less than the funds raised in March.

Back in March 2021, when Klarna carried out a funding round, the valuation of the company at that time was $31 billion. Business Insider reported that it tried approaching both Klarna and SoftBank to comment on the recent developments.

The news reporting firm has revealed that both companies refused to comment on the recent funding round. From the looks of it, both firms wanted to keep the information concealed from the public and especially, from their competitors.

Even one of the most prominent news reporting channels “CNBC” was unable to gather any information from either of the sources.

According to the website hosted by SoftBank, Klarna is already among the companies that have been listed as portfolio companies. On the website, Klarna is visible on SoftBank’s Vision Fund 2.

The website shows that Klarna has the backing of many diverse and prominent investors that include Ant Group from China and Snoop Dogg.

As part of Klarna’s mission, it aims to become the most valuable and prominent tech unicorn in the private sector. The company will be able to cement its presence and position in the European market. It aims to surpass companies such as Checkout and Deliveroo that are backed by giants such as Amazon.

Deliveroo is a food delivery service startup while Checkout is an online payment processor.