June 2021. Startup company Klarna from Sweden takes the title of the company with the highest capitalization in the fintech sector in Europe and at the same time becomes the second most valuable company in this sector in the world after Band. Klarna, which launched a service that allows installment purchase without using a credit card, and then raised $639 million from Japan’s SoftBank at a $45.6 billion valuation. These astronomical numbers impressed investors and startups, and Sebastian Siemiatkowski, co-founder of the popular app, even discussed a possible listing on the stock exchange. Its revenue, according to the British Sifted, rose by 40% to $1 billion in 2020, but at the same time, losses rose by 50% due to the costs that the company took on its development.
Source: Kathimerini
Lori Barajas is an accomplished journalist, known for her insightful and thought-provoking writing on economy. She currently works as a writer at 247 news reel. With a passion for understanding the economy, Lori’s writing delves deep into the financial issues that matter most, providing readers with a unique perspective on current events.