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Klarna’s Valuation Slashed by $39 Billion Amid Fintech Rout

  • Buy-now-pay-later giant says new and existing investors joined
  • Klarna plans to use the money to fund expansion in the US
Updated on

Klarna Bank AB’s valuation has been slashed to $6.7 billion in its latest funding round, in a dramatic reversal for one of Europe’s most high-profile startups. 

The buy-now-pay-later giant said it raised $800 million from new and existing investors, according to a statement Monday. Its new valuation is down from the $45.6 billion it achieved in June 2021, with Klarna reducing its ambitions several times during the latest talks with investors.