Swedish platform Klarna confirmed a $31 billion valuation in its upcoming IPO, after raising $1 billion in a recent private fundraising round. Klarna reported that this latest round of fundraising in September was oversubscribed four times. At the time, this most recent fundraising round was reportedly the last before an IPO.
Klarna tripled its valuation to $31 billion in less than six months. The "buy now pay later" firm's high valuation equates it to large banks such as Barclays and Credit Suisse. The valuation also makes Klarna larger than Deutsche Bank, which is Germany's largest lender.
In September 2020, Klarna completed a $650 million funding round from a group of investors led by Silver Lake. Following the fundraising round, Silver Lake valued the fintech st...