DST Global and General Atlantic invest in Klarna
DST Global and General Atlantic have invested USD 155 million in Klarna via a directed share issue and acquisition of shares from existing shareholders. The funding that Klarna receives via the share issue is earmarked to finance expansion into new markets and fuel growth in existing markets.
Klarna offers a payment solution for e-commerce that lets people shop safely and simply online. Currently, Klarna handles over USD 2.5 billion worth of transactions. Founded 2005 in Stockholm, the company has grown from three founders to over 600 employees.
DST Global is one of the leading global investment groups to exclusively focus on Internet companies, with investments such as Facebook, Twitter, Spotify, 360Buy and Alibaba Group. General Atlantic is a strategic, growth-oriented investor in the financial services sector and in Internet technology companies such as Alibaba Group, Mercado Libre, Facebook, Dice, Privalia, Ren Ren and Gilt.
Klarna was advised by Mannheimer Swartling in the transaction. Fredrik Andretzky was responsible for the matter, and was primarily assisted by Johan Frost Bergman, Peter Sjöberg and Jon Rastad.