Klarna is the New Swedish Start-up Everyone is Talking About

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Klarna, the Swedish payments the start-up has officially become the largest private fintech firm in Europe after a new round of investor funding increased its net value to $5.5bn (£4.5 billion) due to its catchy “shop now, pay later” model that has proven to be very popular across Europe.

The lion’s share valuation comes after the payments company raised just under half a million USD (GDP £370 million) from investors in Silicon Valley-based Dragoneer Ltd, the Commonwealth Bank of Australia and other Silicon Valley company BlackRock.