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Klarna Europe's most valuable fintech with $11bn valuation

Swedish startup Klarna has raised a fresh funding round of $650m at a post-money valuation of $10.65bn, making it by far the most valuable fintech in Europe. AdvertisementSebastian Siemiatkowski, cofounder and chief executive of Klarna, said: “We are at a true inflection point in both retail and finance. For taking on this credit risk, Klarna charges retailers such as Asos or H&M each time it is used. Silver Lake has been particularly active throughout the pandemic taking stakes in Airbnb, Twitter, Expedia and Reliance Retail. Others, like Merian Chrysalis, TCV, Northzone and Swedish media house Bonnier have taken the opportunity to acquire shares from existing shareholders.

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