Buy now, pay later firm Klarna is in talks to raise a new round of funding, Reuters has reported.
In Brief:
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The payments FinTech would seek to raise $500mn.
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Its current valuation, from August last year, is $5.5bn.
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It will look to new and existing investors for the round.
What does this mean?
Despite looking to double its valuation, Klarna would still not match the valuation of its Australian rival AfterPay which is worth $15bn. In any case, buy now, pay later, is exploding across the globe especially in industries like fashion and shows no signs of stopping.
