Klarna Secures Funds for $40 Billion Valuation in IPO

European-based buy-now-pay-later company Klarna is close to securing a new fund-raising round at a $40 billion valuation. Softbank, along with several other investors, is backing the investment.

Funding Details

Big investors such as Snoop Dogg and China's Ant Group back the payment plan company. Softbank's website also has Klarna listed as a portfolio company through the firm's Vision Fund 2. If Klarna's deal goes through, the company will be established as Europe's "most valuable private tech unicorn". Klarna will surpass the U.K.'s food-delivery company Deliveroo and online payment processor Checkout. Checkout hit a $15 billion valuation in January.

In March, Klarna raised a new $1 billion private funding round. This round tripled the company's valuation to $31 billion in les...

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