The $800 million funding round valued the fintech business at $6.7 billion, a fraction of its June 2021 valuation of $45.6 billion.
(Picture: Klarna)The value of Swedish Buy Now, Pay Later business Klarna has plummeted 85% from its 2021 peak after a fresh funding round, in the latest sign of dwindling fortunes for short-term lenders amid rising inflation and fears of a looming recession.
The $800 million (£672 million) funding round valued the fintech business at $6.7 billion, a fraction of its June 2021 valuation of $45.6 billion.
