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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Fintech PR

Account Payables and Receivables Application Market on a Steady Growth Path: Projected to Grow Through 2030 at CAGR 9.70%

Published

21 minutes ago

April 11, 2025

CISION (PR Newswire)

account-payables-and-receivables-application-market-on-a-steady-growth-path:-projected-to-grow-through-2030-at-cagr-9.70%

Sustainable 9.70% CAGR Reflects Enduring Account Payables and Receivables Application Demand Across Sectors

MIDDLETON, Mass., April 11, 2025 /PRNewswire/ — QKS Group, a premier market intelligence and advisory firm, has released its latest in-depth analysis of the global Account Payables and Receivables (AP & AR) Application Market, projecting a compound annual growth rate of 9.70% through 2030. The new reports- ‘Market Share: Account Payables and Receivables (AP & AR), 2024, Worldwide & Regional Report’ and ‘Market Forecast: Account Payables and Receivables (AP & AR), 2025–2030, Worldwide & Regional Report‘- the market is expected to grow at a compound annual growth rate of 9.70% through 2030. This analysis equips businesses with the strategic intelligence needed to navigate the dynamic Account Payables and Receivables (AP & AR) landscape and make informed decisions as the market continues to evolve.

The Next Growth Frontier in Finance Automation

As enterprises look to modernize their finance operations and reduce operational friction, AP & AR automation platforms are becoming mission-critical tools for CFOs and finance leaders. From retail and manufacturing to healthcare, logistics, and financial services, organizations are investing in cloud-based AP & AR applications to improve working capital management, enhance compliance, and unlock operational agility.

According to Hetansh Shah, Analyst at QKS Group, “AP & AR solutions are fast becoming the backbone of intelligent finance operations. With the convergence of automation, artificial intelligence, and real-time analytics, these platforms are delivering enterprise-wide impact-far beyond simple transaction processing.”

Key Market Insights from QKS Group’s Report

Global and Regional Market Analysis: A deep dive into adoption trends and revenue forecasts across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, with regional growth drivers and enterprise spending patterns.
Competitive Benchmarking: An evaluation of leading AP & AR application vendors, including platform capabilities, integration flexibility, customer base, and go-to-market strategies.
Industry Adoption Trends: Insights into which industries are most aggressively adopting AP & AR automation, and how digitization is transforming finance functions across verticals.
Technology Disruption & AI’s Role: An exploration of how machine learning, intelligent data capture, and automated workflows are streamlining invoice processing, cash application, and payment cycles.

Market Leaders & Competitive Landscape

The report highlights key players leading innovation in the AP & AR Application Market, including Quadient, SAP, Oracle, Coupa, HighRadius, Bill.com, Medius, Tipalti, Basware, Corcentric, Esker, AvidXchange, Bottomline Technologies, and Serrala.

Why This Matters for AP & AR Solution Providers

For CEOs, CFOs, product leaders, and strategy teams at AP & AR solution providers, this market intelligence is crucial for unlocking white space opportunities, strengthening competitive positioning, and aligning product roadmaps with enterprise transformation agendas. As digital finance becomes a boardroom priority, vendors must offer scalable, secure, and insight-driven solutions to meet evolving enterprise demands.

Get Access to Exclusive Market Insights (single report or subscription offering)

Market Share: Account Payables and Receivables (AP & AR), 2024, Worldwide:

https://qksgroup.com/market-research/market-share-account-payables-and-receivables-application-ap-and-ar-2024-worldwide-4241

Market Forecast: Account Payables and Receivables (AP & AR), 2025–2030, Worldwide:

https://qksgroup.com/market-research/market-forecast-account-payables-and-receivables-application-ap-and-ar-2025-2030-worldwide-4233

The comprehensive research package includes:

Most Comprehensive Market Forecast Analysis: A separate market forecast report for each region, including North America, Asia Pacific, European Union, MEA, and Latin America.
Unmatched Competitive Analysis: A separate market share report for each region, offering detailed benchmarking of top AP & AR vendors.
QKS TrendsNXT on AP & AR Automation Platforms
QKS TAMSAM Insights Report on the Global AP & AR Application Market
Exclusive Analyst Advisory Sessions for strategic planning, product development, and market entry validation

About QKS Group 

QKS Group, formerly Quadrant Knowledge Solutions, is a leading global advisory and research firm, dedicated to empowering technology innovators to accelerate their growth journeys and enable technology adopters to achieve their digital transformation objectives.

Click below to learn more about Competitive Intelligence Service: https://www.youtube.com/watch?v=bhUQYdKd90A

To gain access to the full market insights, growth forecasts, and competitive analysis, Connect:
Shraddha Roy 
PR & Media Relations
QKS Group
Regus Business Center
35 Village Road, Suite 100,
Middleton Massachusetts 01949
United States
Email: shraddha.r@qksgroup.com
Content Source: https://qksgroup.com/newsroom/account-payables-and-receivables-application-market-on-a-steady-growth-path-projected-to-grow-through-2030-at-cagr-9-70-1024
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Fintech PR

NYSE Content Advisory: Pre-Market update + U.S. and E.U. to negotiate trade

Published

1 hour ago

April 11, 2025

CISION (PR Newswire)

NEW YORK, April 11, 2025 /PRNewswire/ — The New York Stock Exchange (NYSE) provides a daily pre-market update directly from the NYSE Trading Floor. Access today’s NYSE Pre-market update for market insights before trading begins.

Kristen Scholer delivers the pre-market update on April 11th

Stocks rose Friday as JP Morgan Chase (NYSE: JPM) exceeded earnings expectations.
China raised tariffs on U.S. imports to 125% after the White House upped its tariffs to 145% on Chinese imports.
Traders gave equities a boost after the European Union said its representatives will fly to Washington D.C. to “try and sign deals”

Opening Bell
Project H.O.O.D highlights its efforts to build a Leadership & Economic Opportunity Center on the South Side of Chicago

Closing Bell
YPF S.A. (NYSE: YPF) celebrates and introduces its new management team

Download the NYSE TV App and Subscribe Here

Video – https://mma.prnewswire.com/media/2662834/NYSE_Market_Update_April_11_2025.mp4

Logo – https://mma.prnewswire.com/media/2581322/New_York_Stock_Exchange_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/nyse-content-advisory-pre-market-update–us-and-eu-to-negotiate-trade-302426564.html

Fintech PR

BingX Xpool Opens 50,000 BABY Reward Pool for USDT Stakers

Published

1 hour ago

April 11, 2025

CISION (PR Newswire)

bingx-xpool-opens-50,000-baby-reward-pool-for-usdt-stakers

PANAMA CITY, April 11, 2025 /PRNewswire/ — BingX, a global leading cryptocurrency exchange, is excited to announce the BABY token has been added to its Xpool feature. Starting April 7 at 10:00 (UTC) through April 14 at 10:00 (UTC), BingX users can stake USDT in Xpool to share a total reward pool of 50,000 BABY Points. Participants can redeem BABY Points at a 1:1 ratio for BABY tokens, providing early access to Babylon’s Bitcoin staking protocol without the need to lock actual BTC, ahead of BABY’s official spot listing and perpetual futures trading on April 10.

BABY is the governance and utility token of Babylon, a protocol that allows native Bitcoin staking without bridging or wrapping BTC. The token powers validator delegation, governance functions, and staking incentives. Its addition to X-Pool reflects BingX’s continued focus on providing access to promising early-stage projects through simple and flexible mechanisms.

By staking USDT in Xpool, BingX users gain a passive income opportunity tied to the growth of Bitcoin staking activity on Babylon. This is especially useful for those who want to participate in emerging staking models without the complexity of running nodes or interacting directly with smart contracts. Xpool ensures a streamlined process with no lock-up requirements and real-time reward tracking.

“Our users have been asking for more diverse and meaningful token options in Xpool. With BABY, we are offering them exposure to a unique staking protocol built specifically for Bitcoin holders”, said Vivien Lin, Chief Product Officer of BingX. “You don’t need to be a validator or bridge assets to benefit as you can just stake USDT through Xpool and start earning. It is simple, efficient, and designed with user control in mind.”

Adding BABY to Xpool strengthens BingX’s position as a flexible platform for low-barrier token engagement. The BABY Xpool campaign bridges trending DeFi utilities with a centralized, user-friendly experience to support novel protocols like Babylon while rewarding users who move early.

About BingX

Founded in 2018, BingX is a leading crypto exchange, serving over 20 million users worldwide. BingX offers diversified products and services, including spot, derivatives, copy trading, and asset management – all designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency. In 2024, BingX proudly became the official crypto exchange partner of Chelsea Football Club, marking an exciting debut in the world of sports.

For more information please visit: https://bingx.com/