SoftBank leads $640 million investment in Klarna, valuing buy-now-pay-later firm at $46 billion

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Klarna CEO Sebastian Siemiatkowski attends the motorboat of the online outgo start-up's pop-up store successful London.

Dave Benett | Getty Images for Klarna

LONDON — Swedish fintech steadfast Klarna said Thursday that it raised $639 cardinal successful a caller backing circular led by SoftBank, valuing the institution astatine $45.6 billion.

Klarna is 1 of the largest providers of buy-now-pay-later services, which fto radical concern their buying purchases interest-free implicit a play of monthly instalments. These services person go peculiarly fashionable since the coronavirus pandemic began.

The latest concern successful Klarna, which was led by SoftBank's Vision Fund 2, cements its presumption arsenic Europe's apical fintech unicorn, and the second-biggest fintech start-up by valuation aft Stripe.