Klarna looking to raise new funds at over $40 billion valuation - report

STOCKHOLM - Swedish payments firm Klarna is close to finalizing a new funding round led by SoftBank that could lift the company's valuation to above $40 billion, Business Insider reported citing sources.

Klarna in March raised a new $1 billion private fundraising round, tripling its valuation to $31 billion in less than six months.

The size of the cash injection is not yet finalized but is expected to be around $500 million, according to the report https://www.businessinsider.com/klarna-buy-now-pay-later-softbank-40-billion-2021-5.

A Klarna spokesperson declined to comment.