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# Swedish fintech Klarna secures $800 million in funding
- URL: https://www.techloy.com/swedish-fintech-klarna-secures-800-million-in-funding/
- Published: 2022-07-11T18:25:27.000Z
- Updated: 2022-12-08T01:22:45.000Z
- Author: Oluwajuwonlo Afolabi
- Tags: / Fintech

Sweden-based fintech platform, [Klarna,](https://www.klarna.com/us/) has announced its new fundraise of $800 million, however with an 85% fall in its market valuation.

- The fund will be invested in expanding its market base in the United States, the fintech firm claims.
- It attributes its valuation fall to a host of factors including the high inflation, rising interest rate, the COVID-19 effects, and the disruptions of supply chains spurred by the war in Ukraine.
- Klarna seems to be in a struggling phase as it laid off 10% of its 5,000 employees in May, now followed by a fall in its valuation.
- Founded in 2005, The company evolved from helping people shop online to safe tech payments spanning 145 million active consumers in over 400,000 merchants in 45 countries.