Fintech PR

Klarna announces $650M funding round to further accelerate global growth

Published

5 years ago

September 15, 2020

Klarna, the leading global payments and shopping service, is pleased to announce it has raised $650 million in an equity funding round, at a post money valuation of $10.65 billion, which ranks Klarna as the highest-valued private fintech in Europe and now the 4th highest worldwide.

The funding round is led by Silver Lake, the global leader in technology investing, with more than $60 billion in combined assets under management, alongside GIC – Singapore’s sovereign wealth fund – as well as funds and accounts managed by BlackRock and HMI Capital. Concurrently, Merian Chrysalis, TCV, Northzone and Bonnier have acquired shares from existing shareholders. They will join current investors such as Sequoia Capital, Dragoneer, Permira, Commonwealth Bank of Australia, Bestseller Group and Ant Group in supporting Klarna’s future growth. The funding will help Klarna further invest in its unique shopping offering, continue to grow its global presence, and accelerate its strong momentum across all markets, especially in the US where the company is growing particularly rapidly and now has more than 9 million consumers.

The uniqueness of Klarna’s offer – providing a healthier, simpler and smarter alternative to credit cards and a broad range of services to enable a superior shopping journey – continues to drive rapid consumer adoption and loyalty with more than 90 million consumers worldwide. This is at a time when consumers are actively turning away from revolving credit lines and inferior retail experiences towards services that better meet their needs.

Klarna’s direct to consumer app, which enables users to shop at any store or brand online with installment payment options, is strongly resonating as consumers have become more focused on convenience, value and control. The app has more than 12 million monthly active users worldwide, with 55,000 daily downloads, significantly outpacing its nearest competitor with almost 3x as many downloads over the last year. In the app, consumers can also now wishlist their favourite items, access unique discounts, set up price-drop notifications and track spending and deliveries intelligently. The app also features the world’s first buy now, pay later shopper loyalty program, Vibe, which rewards consumers who pay on time, to encourage responsible spending. Vibe is currently available to consumers in the US and will soon be launched in additional markets.

In the context of the current accelerated switch to online retail and evolving consumer preferences, Klarna has seen a surge in demand, adding more than 35,000 new retailers during the first half of 2020 to its network of more than 200,000 retail partners including Sephora, Groupon, SHEIN, Charlotte Tilbury, Vans, The North Face, Ted Baker, Timberland and Ralph Lauren. Klarna is the pay later partner of choice for the top 100 highest grossing merchants in the US and will soon go live with more ahead of the busiest shopping season. A recent McKinsey & Company consumer survey found that more than 75% of consumers have tried new brands, places to shop or methods of shopping during COVID-19 and that 82% of those who have tried a new digital shopping method intend to continue using it even after the crisis ends. This is reflected in strong business results for Klarna: volume and revenue for the first half of 2020 grew 44% and 36% year-on-year to more than $22 billion and $466 million respectively.

Sebastian Siemiatkowski, co-founder and CEO of Klarna: “We are at a true inflection point in both retail and finance. The shift to online retail is now truly supercharged and there is a very tangible change in the behaviour of consumers who are now actively seeking services which offer convenience, flexibility and control in how they pay and an overall superior shopping experience. Klarna’s unique proposition, consumer preference and global retailer network will prove an excellent platform for further growth. The Klarna team is honoured to welcome such world class investors to support our mission to become the world’s favourite way to shop.”

Egon Durban, Co-CEO and Managing Partner, and Jonathan Durham, Managing Director, of Silver Lake: “Klarna is one of the most disruptive and promising fintech companies in the world, redefining the ecommerce experience for millions of consumers and global retailers, just as ecommerce growth is accelerating worldwide and rapidly shifting to mobile. Klarna’s retail partners benefit from incremental traffic and dramatically improved customer conversion. Consumers love Klarna for its differentiated app-based shopping experience and for their flexible and transparent payment options. We are excited to invest in the company and partner with Sebastian and his talented team at this dynamic time to help accelerate Klarna’s remarkable growth and success worldwide.”

Mick Hellman, Managing Partner, and Sean Barrett, Partner, of HMI Capital: “Klarna’s industry-leading global payments platform has revolutionized ecommerce, providing its more than 90 million delighted consumers with unprecedented ease and flexibility, and its more than 200,000 retail partners with increased revenue. Klarna’s rapid growth at scale is evidence of how effectively its disruptive offering is meeting evolving consumer needs during these uncertain times. We are thrilled to continue our partnership with Sebastian and his team and look forward to supporting Klarna in the years ahead.”

John Doran, General Partner, TCV: “After emerging as the clear category leader in Europe, Klarna is now seeing incredible momentum in the US market with more than 9 million consumers in the US alone and having signed a large number of blue-chip retailers to its platform. Klarna’s payments solutions offer a very compelling value proposition to both merchants and consumers as shown by its remarkable customer stickiness and impressive growth. We have been tracking Klarna’s continued execution for some time and are delighted to be able to partner with Sebastian and the entire Klarna team to help support their journey as they continue to serve a very large and rapidly growing global ecommerce market.”

Richard Watts, co-manager, Merian Chrysalis Investment Company: “Klarna has been a driving force in revolutionizing the online shopping and payments market. The company has seen a significant increase in usage during the coronavirus pandemic and the US in particular has seen a step change as consumer numbers have grown more than six-fold year on year. Klarna’s expansion continues to gain pace and we’re delighted to have the opportunity to increase our stake in the business, providing further support as it enters the next stage of growth.”

Hans Otterling, Partner, Northzone: “With more than 200,000 retail partners and millions of monthly active users globally, Klarna leadership has proven that they are absolutely world-class in developing a global payment platform that reshaped the future of e-commerce and shopping. Their “buy now, pay later” offering resonates with current customer needs and provides the best offering in a shopping experience. We’re excited to continue to be a part of Klarna’s development into a global payment market leader across the globe. Sebastian and his team have a deep understanding of the market, and we are impressed by their clarity of vision and speed of execution since we’ve invested in 2015.”

Erik Haegerstrand, CEO of Bonnier Group: “We have followed Klarna closely over several years as a satisfied customer in successful partnerships, during which we have gained a thorough understanding of the true potential of Klarna’s unique customer offering. We are very enthusiastic over the opportunity to invest in Klarna and to support Sebastian and his team to grow the business further.”

Numis acted as exclusive financial advisor and placement agent to Klarna.

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Sandbrook Capital and PSP Investments Announce Sale of Offshore Wind Pioneer Havfram to DEME

Published

12 minutes ago

April 9, 2025

CISION (PR Newswire)

sandbrook-capital-and-psp-investments-announce-sale-of-offshore-wind-pioneer-havfram-to-deme

LONDON, MONTREAL, and OSLO, Norway, April 9, 2025 /PRNewswire/ — Sandbrook Capital, a private investment firm focused on building leading climate infrastructure companies, and the Public Sector Pension Investment Board (PSP Investments), one of Canada’s largest pension investors, today announced the signing of an agreement to sell Havfram, an international offshore wind infrastructure company, to DEME (Euronext: DEME), a global leader in offshore energy and marine engineering.

Established in 2021 through a strategic partnership between Sandbrook Capital and PSP Investments, Havfram was created to provide critical offshore wind installation capacity to the world’s leading energy companies. Under their ownership, Havfram has evolved into a world-class operator of Wind Turbine Installation Vessels (WTIVs), with two state-of-the-art vessels currently under construction and a strong contract backlog to build some of the largest offshore wind farms.

“We partnered with PSP Investments to build Havfram because we saw a unique market opportunity to provide the state-of-the-art vessels required to build today’s enormous offshore wind farms” said Christopher Hunt, Partner at Sandbrook Capital. “In just a few years, Havfram has become one of the most important players in the offshore wind industry. We are proud of what the team has achieved and the positive financial returns delivered to our investors. DEME will be an outstanding steward of the company in its next phase of growth.”

“Our investment in Havfram reflects our broader capabilities and commitment to invest in assets essential to the renewables value chain, while generating strong risk-adjusted returns,” said Sandiren Curthan, Managing Director and Global Head of Infrastructure Investments, PSP Investments. “We are proud to have partnered with Sandbrook Capital and with the Havfram team to build a fleet of next generation WTIVs.”

“The support and long-term vision of Sandbrook Capital and PSP Investments have been instrumental in building Havfram into what it is today,” said Ingrid Due-Gundersen, CEO of Havfram. “We’re incredibly excited to join forces with DEME, a global leader with a shared mission to accelerate offshore wind deployment. Together, we will play a major role in enabling the energy transition around the world.”

The transaction, valued at approximately € 900 million, is expected to close by the end of April 2025, subject to customary closing conditions.

Goldman Sachs served as financial advisors and Thommessen served as legal advisor to Sandbrook Capital and PSP Investments.

About Sandbrook Capital

Sandbrook Capital is a private investment firm dedicated to building the next generation of climate infrastructure companies. Founded by a team of seasoned investors and operators, Sandbrook partners with exceptional management teams to grow sustainable businesses that deliver attractive financial returns and meaningful climate benefits. For more information, visit www.sandbrook.com.

About PSP Investments

The Public Sector Pension Investment Board (PSP Investments) is one of Canada’s largest pension investors with C$264.9 billion of net assets under management as of 31 March 2024. It manages a diversified global portfolio composed of investments in capital markets, private equity, real estate, infrastructure, natural resources, and credit investments. Established in 1999, PSP Investments manages and invests amounts transferred to it by the Government of Canada for the pension plans of the federal public service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. Headquartered in Ottawa, PSP Investments has its principal business office in Montréal and offices in New York, London and Hong Kong. For more information, visit investpsp.com or follow us on LinkedIn.

About Havfram

Havfram is a Norwegian offshore wind installation company providing critical services to the global renewable energy industry. With two newbuild WTIVs under construction and a robust backlog, Havfram is positioned as a leading player in enabling the deployment of next-generation offshore wind farms. For more information, visit www.havfram.com.

Media contacts: PSP Investments, Charles Bonhomme, +1 438 465-1260, media@investpsp.ca; Sandbrook Capital, Daniel Yunger / James Hartwell, Kekst-Sandbrook@kekstcnc.com, 917.574.8582 / 917.842.9560

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View original content:https://www.prnewswire.co.uk/news-releases/sandbrook-capital-and-psp-investments-announce-sale-of-offshore-wind-pioneer-havfram-to-deme-302423944.html

Fintech PR

Strategic Value Partners and Blantyre Capital Acquire OQ Chemicals

Published

12 minutes ago

April 9, 2025

CISION (PR Newswire)

OQ Chemicals will reinstate its name to OXEA

LONDON, April 9, 2025 /PRNewswire/ — Strategic Value Partners, LLC and its affiliates (together, “SVP”), a global alternative investment firm with approximately $22 billion of assets under management, and Blantyre Capital Limited (“Blantyre”), a London-based investment manager with more than €2.7 billion of long-term capital commitments, today announced that SVP-managed funds and Blantyre-managed funds have acquired OQ Chemicals (“the Company” or “OXEA”), a leading global producer and merchant of oxo chemicals. As part of the acquisition, OQ Chemicals will reinstate its name to OXEA, reaffirming its heritage and longstanding presence in the global chemicals industry.

OXEA is a premier manufacturer of oxo intermediates and oxo performance chemicals, supplying essential ingredients to specialty chemicals and additive manufacturers across key U.S. and European markets. The Company produces high-quality alcohols, polyols, plasticisers, carboxylic acids, specialty esters, and amines that are vital to the production of paints, coatings, plastics, lubricants, pharmaceuticals, and other essential sectors. OXEA plays a strategic role in global supply chains, supporting long-term demand across high-growth industries, including construction, automotive, and electronics. With more than 1,200 employees worldwide, OXEA markets its chemicals in over 60 countries, with primary production sites located in Germany and Texas, ensuring a strong global presence.

“OXEA’s leading market positions, global reach, and innovation capabilities provide a solid foundation for long-term growth,” said HJ Woltery, Co-Head of the European Investment Team at SVP. “We look forward to partnering with the OXEA team to build upon this strong foundation and continue delivering exceptional value to its customers and stakeholders across well-diversified markets.”

“We are pleased to partner with OXEA, a market leader with strong production capabilities,” said Mubashir Mukadam, Chief Investment Officer at Blantyre Capital. “OXEA’s significant expertise in oxo chemicals, combined with its global footprint, presents ample opportunities for growth. We look forward to supporting the Company as it continues to expand its product offerings and enhance its strategic position in the industry.”

SVP and Blantyre were advised on the transaction by Kirkland & Ellis, Akin, and Lazard.

About OXEA

OXEA is a global manufacturer of Oxo Intermediates and Oxo Performance Chemicals such as alcohols, polyols, carboxylic acids, specialty esters, and amines. These are used to produce high-quality coatings, lubricants, cosmetic and pharmaceutical products, flavors and fragrances, printing inks, and plastics. OXEA employs more than 1,200 people worldwide and markets its chemicals in more than 60 countries. More information under chemicals.oq.com About SVP

SVP is a global alternative investment firm that focuses on special situations, private equity, opportunistic credit and financing opportunities. The firm uses a combination of sourcing, financial and operational expertise to unlock value in its portfolio companies. Today SVP manages approximately $22 billion in assets under management, and since inception, has invested more than $53 billion of capital, including more than $18 billion in Europe. The firm, established by Victor Khosla in 2001, has over 200 employees, including more than 100 investment professionals, across its main offices in Greenwich (CT) and London, and a presence in Tokyo. Learn more at www.svpglobal.com

About Blantyre

Blantyre is a London-based investment manager specialising in middle market equity and debt special situations. The firm transforms businesses by providing time-sensitive capital that can support companies in financing growth, M&A, capital structure optimisation, operational enhancements, shareholder changes and recapitalisation, and liquidity solutions. Blantyre manages more than €2.7bn of long-term capital commitments on behalf of highly regarded institutional investors, including public and private pension plans, sovereign wealth funds, endowments, foundations, private funds, and family offices. Blantyre strives to be the middle market special situations firm of choice for its partners and investors. For more information, please visit www.blantyrecapital.com

Media Contacts

Greenbrook
James Madsen / Ksenia Galouchko
SVP@greenbrookadvisory.com

View original content:https://www.prnewswire.co.uk/news-releases/strategic-value-partners-and-blantyre-capital-acquire-oq-chemicals-302423909.html

Fintech PR

Kia announces strengthened growth engine strategy at 2025 CEO Investor Day

Published

1 hour ago

April 9, 2025

CISION (PR Newswire)

kia-announces-strengthened-growth-engine-strategy-at-2025-ceo-investor-day

Kia’s Plan S 2030 business strategy updated with growth strategies for new products, focus on electrification commitment
Kia aims for global sales of 4.19 mln units, market share of 4.5%, by 2030
EV: Target of 1.26 mln EV sales by 2030
… Global EV market share of 4.3%; expansion of volume EV lineup
PBV: To sell 250,000 PBVs by 2030
… Launches of PV5 in 2025, PV7 in 2027 and PV9 in 2029
Pickup Truck: To add an EV pickup model for North America, building on Tasman pickup’s success
… Targeting global Tasman sales of 80,000 units per year
Aim to achieve KRW 170 tln in revenue, over 10% operating profit margin by 2030
Kia to invest KRW 42 tln from 2025-2029, including KRW 19 tln for future business
2025 business guidance
…Targeting more than KRW 112 tln in revenue, market share of 3.7%
… Operating profit margin of 11% on global sales of more than 3.2 mln units

SEOUL, South Korea, April 9, 2025 /PRNewswire/ — Kia Corporation today shared its mid-to-long-term business strategies and financial targets at its CEO Investor Day.

As part of Kia’s updated Plan S strategy – the brand’s mid-to-long-term business plan – the company outlined its bold strategy to achieve global sales of 4.19 million units by 2030, including 2.33 million hybrid and fully electric vehicles (EVs).

Leveraging its agility and flexibility in response to the market environment, Kia will diversify its growth engines by introducing new models – such as PBVs and pickup trucks – and other key future businesses.

“Since launching the Kia Transformation strategy in 2021, Kia has continuously progressed to become a provider of sustainable mobility solutions that innovate space and enable customers to make better use of their time beyond conventional means of transportation,” said Ho Sung Song, President and CEO of Kia. “We will continue to develop the brand by implementing mid-to-long-term strategies to strengthen our internal stability and respond effectively to changes in the auto industry.”

Kia is accelerating its transformation by expanding its hybrid and EV offerings, aiming to sell 1.26 million EVs and nearly one million hybrids by 2030. The company will strengthen its EV leadership through the launch of volume models, including the EV3, EV4, EV5, and the upcoming EV2, while enhancing cost efficiency, customer service, and production strategies.

Kia is also expanding its PBV business, targeting annual sales of 250,000 units by 2030. Its PBV lineup will include PV5 in 2025, PV7 in 2027, and PV9 in 2029. Furthermore, Kia has launched its Tasman for global markets, with an annual sales target of 80,000 units, and will develop an EV pickup model for North America.

By 2030, Kia aims to achieve KRW 170 trillion in revenue and an operating profit margin of over 10 percent. The company plans to invest a total of KRW 42 trillion from 2025 to 2029, with KRW 19 trillion allocated to future business.