• Business

    Klarna beats UK’s Revolut to become Europe’s biggest fintech

    Rapper Snoop Dogg in an advertisement for Klarna – Klarna Swedish online payments business Klarna has become the most valuable financial technology start-up in Europe after its valuation rose to more than $10bn (¬£7.7bn) in a new funding round. The company, which lets customers pay in increments for their purchases, has raised around $650m in funding from backers, bringing its valuation to $10.65bn. The investment was raised from Silver Lake, Singapore’s sovereign wealth fund GIC, BlackRock and HMI Capital have helped Klarna beat¬†British rivals such as Revolut and Checkout.com whose valuations remain at $5.5bn. Klarna plans to use the fresh injection of funding to continue its global expansion, including in…

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