Klarna backer Atomico raises $820m fund to back European startups

Atomico has announced the closure of its fifth fund. With $820m in fresh capital in its coffers, the venture capital firm now hopes to support more Series B and C startups across Europe.

“Backed by breakthrough technology and innovative business models, we continue to believe that entrepreneurs are the ultimate gamechangers,” Atomica said in a statement. “They take risks and push boundaries to rewire the world in favour of something better for as many people as possible.”

The new Atomico V round originally set out to raise $750m, but thanks to it being oversubscribed, the firm managed to beat its target. The investor now has $2.7bn in assets under management.

Atomico has a history of backing FinTech companies. Payment instalment unicorn Klarna and property financing scaleup LendInvest as well as InsurTech Fat Llama and PropTech scaleup Habito have all been funded by Atomico.

The investor last raised a fund back in 2017. Its fourth fund raised $765m.

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