The buy-now, pay-later credit provider's valuation is expected to slip below $10bn as it finalises plans to raise approximately $600m from investors, Sky News learns
Existing Klarna backers including Sequoia Capital and Silver Lake are said to be planning to participate in the latest funding round for a company which has grown at breakneck speed in recent years to become one of Europe's most richly-valued technology companies.Two years ago, it raised funds at a $45.6bn valuation, while in the last six weeks alone, the Wall Street Journal has reported that the company was seeking funds at valuations of $30bn, then $15bn, and then as low as $10bn.
Its fading valuation ambitions are partly the result of changing economic circumstances, with investors increasingly shunning tech-focused growth companies, partly increased regulatory scrutiny, and partly the emergence of behemoths such as Apple in the buy-now, pay-later sector.Silver Lake declined to comment.
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