Investing in smart scooter manufacturer Voi Technology
In early, the Swedish smart scooter manufacturer Voi Technology completed a Series C funding round and raised $ 160 million to expand the company. Voi Technology is now valued at $ 1 billion. Read more here .
Attraction of $ 650 million in investments, an estimate of $ 10 billion
On September 14, 2020, Klarna officially became the most valuable fintech company in Europe . The Swedish startup raised $ 650 million in another round of funding led by the Silver Lake Partners venture capital fund and the Singapore Sovereign Wealth Fund . Klarna is now valued at $ 10.6 billion.
Silver Lake Partners Managing Director Jonathan Durham noted:
|Klarna is one of the most disruptive and promising fintech companies in the world, improving the e-commerce experience for millions of consumers and global retailers.|
Startup Klarna is best known for its buy now, pay later model. It offers users interest-free financing for retail purchases in installments, the startup assumes transactional risks and payment processing responsibilities. Klarna pays the seller when a user buys something on his platform, and users later return the amount to the startup in installments.
The seller receives money at the time of ordering, and the user can pay for the purchase within 14 days from the date of its receipt or at the end of the month, this option is available for Klarna Account users. The startup collaborates with such large companies as Adidas , Samsung , and H&M . Klarna’s regional rivals include British mobile bank Revolut and payment software maker Checkout.com.
According to CB Insights, startup Klarna was valued at $ 5.5 billion prior to the deal, along with popular startups Revolut and Checkout.
As of September 2020, the Klarna app has over 12 million monthly active users worldwide. The app is downloaded about 55,000 times every day, which the company claims is almost three times the number of downloads from its closest competitor over the past year. [one]