The Swedish fintech is now worth more to its investors than Deutsche Bank, which has a market value of 25 billion dollars.
The payment service provider Klarna has raised 1 billion dollars (825 million euros) in capital from investors. Klarna announced on Monday that the financing round with old and new donors was four times oversubscribed. This tripled Klarna's valuation within six months to $ 31 billion. The Swedish fintech is now worth more to its investors than Deutsche Bank, which has a market value of 25 billion dollars.
Klarna is currently growing massively and is benefiting from the trend towards shopping on the Internet and the increased number of payments at checkouts with cards or smartphones. Klarna last raised $ 650 million in fresh capital from investors in September, the valuation at that time was $ 11 billion.
Founded in 2005, the company has 87 million customers worldwide and achieved a transaction volume of $ 56 billion in 2020. Sales broke the $ 1 billion mark for the first time. Klarna competes with the US payment service PayPal and the Dutch provider Adyen. Deutsche Bank is also trying to gain a foothold in the business.
