Klarna confirms $800M raise as valuation drops 85% to $6.7B

European fintech Klarna has confirmed that it has raised $800 million at a pretty hefty valuation drop.

Klarna confirmed today that it’s now valued at $6.7 billion off the back of its new investment, representing an 85% drop on the corresponding figure reported in June, 2021.

The round included a slew of new and existing investors, including Sequoia, Silver Lake, Commonwealth Bank of Australia, the UAE’s sovereign fund Mubadala Investment Company and Canada Pension Plan Investment Board (CPP Investments).

Read more: TechCrunch