Klarna raises funding
European e-commerce payments provider, Klarna, raised USD155m in a new funding round before its upcoming IPO, which is now expected to see the company valued at over USD1bn. The round was led by General Atlantic as well as current investors Sequoia Capital. Klarna, based in Stockholm, processes USD2.5bnn worth of payments from 6m consumers across 14,000 merchants annually. The firm has grown to 600 employees since 2005 and promises to take some of the risk out of e-commerce by extending credit to shoppers, allowing them to pay after their goods are received.
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