Klarna valuation slashed again to $6.5bn, report suggests
The ‘buy now, pay later’ giant was valued at $45.6bn in 2021.
Having been valued at $45.6bn in 2021, the ‘buy now, pay later’ (BNPL) is now closing in on a funding round of around $650m, the Wall Street Journalreported.
Michael Mortiz, a partner at the venture capital firm, is also chairman of Klarna.
While the deal has yet to go through or be confirmed by the BNPL directly, the new valuation would be a huge reduction from last year, when it raised $639m in a round led by an arm of SoftBank.
It had already raised $1bn earlier in the year.
Since then the BNPL has had a number of reported valuation drops after it was reported to be eyeing a $50-60bn valuation alongside new funding in February.