Klarna, the Swedish buy now, pay later behemoth and upstart bank, has raised $1 billion in new funding at a post-money valuation of $31 billion. That sees the company retain the crown as the highest-valued private fintech in Europe.
Backers of this round are said to be a combination of new and existing investors, while Klarna claims it was four times oversubscribed. That’s likely prompted by reports the company is eyeing up a direct public listing and the current appetite for public tech stocks in general.
As a reference point, Affirm, which is viewed in the U.S. as one of Klarna’s most direct competitors, recently IPO’d. If you want further data points, read Alex’s Extra Crunch analysis of Klarna, Affirm and AfterPay’s most recent earnings.