The Wall Road Journal stories that the Swedish Acquire Now Pay back Afterwards (BNPL) big Klarna is increasing a new spherical of funds, valuing the business at $6.5 billion. This represents a huge “down round†for Klarna. As a short while ago as mid-June, the exact paper reported that the firm was seeking investment decision valuing it at $15 billion. And in 2021, Klarna elevated $639 million, in a round that valued the corporation at $46.5 billion.
This calendar year has been a punishing season for tech businesses in standard, and BNPL firms in unique. While BNPL products and services are ever more popular with customers, the small business has grow to be remarkably aggressive. In June, for case in point, Apple introduced that it will get started featuring BNPL companies.
Klarna is the most significant firm featuring principally BNPL companies, and is an especially dominant player in the European industry. Its push into the US sector was highlighted by a 2021 Tremendous Bowl advertisement. In Could this calendar year, Klarna declared that it would lay off about 10% of its workforce.
