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

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.

A Klarna logo on a mobile phone arranged in London.

Source: Bloomberg

Once one of the world’s most valuable startups, Klarna was discussing valuations as high as $60 billion as recently as February. That was before the war in ...