European FinTech giant Klarna is reportedly about to suffer a valuation drop of $30bn as it seeks fresh investment.
The Swedish BNPL company was previously valued at $46bn when it closed a $639m investment in June 2021.
Klarna is looking to raise $1bn in a fresh funding round, according to a report from Bloomberg. The company was originally going to raise the funds at a valuation between $50bn and $60bn.
The FinTech company offers buy now, pay later services for brands including H&M, Adidas, Tommy Hilfiger and many others.
It recently acquired comparison shopping service PriceRunner, which will add product discovery, price comparisons and product reviews for consumers. Klarna claims its 400,000 global retail partners and PriceRunner’s retail partners will benefit from increased website traffic.
Another development from Klarna this year was the launch of a dedicated open banking unit. Klarna Kosma is designed for banks, FinTechs and merchants building payment services or need access to financial data to create solutions. Kosma gives them access to 15,000 banks in 24 countries through a single API.
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