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Permira Acquires 10 Percent Stake In Klarna

Private equity group Permira has acquired a 10 percent take in Swedish FinTech company Klarna.

According to a report in the Financial Times, the stake cost the PE firm $250 million. The deal was expected to be announced later Friday (July 21) and marks the first time Permira has gotten involved with a FinTech company.

Klarna’s co-founder, Niklas Adalberth, sold some of his shares as well, noted the report. According to the news release, General Atlantic and DST Global also sold their stakes in the FinTech company as part of the deal.

Klarna, one of the fastest growing payment companies in Europe — serving approximately 60 million consumers and 70,000 retailers — was last valued at $2.25 billion during a fundraising round in 2015. It received a banking license in June, one of the largest European FinTech companies to do so. 

The stake sale comes just a day after French payment company Ingenico acquired Bambora, a Klarna rival. The news release pegged the enterprise’s value at €1.5bn, and was reportedly one of the largest deals of its kind.

Early last month, Klarna picked up a new investor that catapulted its valuation to more than $2.25 billion. Brightfolk, the fashion firm owned by Danish entrepreneur Anders Holch Povlsen, purchased shares of the Swedish payments unicorn from existing investors General Atlantic, DST Global and Klarna co-founder Niklas Adalberth, though all retained stakes as Klarna shareholders.

Along with Brightfolk, Povlsen owns Bestseller, a leading fashion company with brick-and-mortar and digital brands that include Jack & Jones, Vero Moda, Only and Selected. Bestseller has been a partner of Klarna for several years, giving Povlsen firsthand insight into what the finance startup has to offer.

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