![]() ![]() In February 2021, Klarna launched bank accounts for a limited number of users in Germany. In 2020, Ant Financial, the payment affiliate of Chinese e-commerce company Alibaba, invested in Klarna as part of a global partnership between the two firms. ![]() This funding round valued the company at $5.5 billion, becoming the largest fintech start-up in Europe. In 2019, Klarna raised $460 million with plans to expand payment presence in the US, with participation from Dragoneer Investment Group, Commonwealth Bank of Australia, HMI Capital, Merian Chysalis Investment Company Limited and others. The other four companies were Spotify, Mojang, Skype, and King. That year, Minister of Enterprise and Innovation Mikael Damberg dubbed Klarna one of Sweden's "five unicorns", by which he meant startup companies that had succeeded in growing and attracting international investments. Klarna launched in the United States in September 2015, and the US has become its principal focus for future growth, after securing exclusive partnerships with luxury department store Macy's. Both companies would continue to offer their products side by side and operate on a stand-alone basis. Klarna began offering services in Austria in 2012, and in 2013, Klarna and German SOFORT AG merged after Klarna acquired SOFORT Banking from the majority shareholder Reimann Investors, becoming Klarna Group. Analyzd specialise in risk management and online payments, and its founders previously worked for PayPal. In May 2011, Klarna acquired Israeli company Analyzd, which had business activity on markets in Europe, Israel and the United States. In 2011, growth equity firm General Atlantic led a $155 million investment round joined by DST Global, and General Atlantic's managing director Anton Levy joined the board of directors. In the early 2011, British newspaper The Telegraph listed Klarna as one of Europe's 100 most promising young tech companies. During 2010, Klarna increased their revenues by over 80% to US$54 million (~400 million SEK). Klarna also started their operations in Germany and the Netherlands in 2010, and in May the same year, San Francisco-based Sequoia Capital entered as investors. Three years later, Klarna started selling their services in Norway, Finland and Denmark. Īt the end of 2007, venture capital firm Investment AB Öresund invested in the company. ![]() An angel investor and previous Erlang Systems sales manager, Jane Walerud, invested in their company and put them in contact with a team of programmers to help them build the platform. ĭespite this, they decided to found Klarna in mid-2005 and started operations in Sweden. The three founders Sebastian Siemiatkowski, Niklas Adalberth and Victor Jacobsson participated in the Stockholm School of Economics annual entrepreneurship award in 2005 with their idea, however their idea was not enthusiastically received and their entry was among the last in the competition. It has become known as a " Buy now, pay later" (BNPL) service provider, offering customers credit on their purchases as part of the checkout process. Klarna's core service is to provide payment processing services for the e-commerce industry, managing store claims and customer payments. In 2021, the company was Europe's most valuable private tech company, at a $45.6 billion valuation, however this crashed to $6.7 billion in 2022. As of 2011, about 40% of all e-commerce sales in Sweden went through Klarna. In 2021, the company handled about US$80 billion in online sales. The company has more than 5,000 employees, most of them working at the headquarters in Stockholm and Berlin. Klarna Bank AB, commonly referred to as Klarna, is a Swedish fintech company that provides online financial services such as payments for online storefronts and direct payments along with post-purchase payments. ![]()
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