Klarna's Valuation Slashed by $39 Billion Amid Fintech Rout

Klarna Bank's valuation has been slashed to $6.7 billion in its latest funding round, in a dramatic reversal for one of Europe's most high-profile startups. From a report: The buy-now-pay-later giant said it raised $800 million from new and existing investors, according to a statement Monday. Its new valuation is down from the $45.6 billion it achieved in June 2021, with Klarna reducing its ambitions several times during the latest talks with investors. Once one of the world's most valuable startups, Klarna was discussing valuations as high as $60 billion as recently as February. That was before the war in Ukraine and rising rates helped to spark a market-wide collapse.

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