Klarna Raises 90 Million Euros to Fund Purchase of Sofort

Klarna raised 90 million euros to finance its acquisition of Sofort through fundraising led by Klarna's founders and existing investors, including Sequoia Capital, General Atlantic and Atomico.

Klarna, of Sweden, completed its purchase of Sofort March 7. At the time, reports indicated Klarna paid about $150 million, or 108 million euros, for the German payment provider.

With the addition of Sofort, Klarna now provides payment services to more than 60% of all of German Internet merchants, Klarna CEO Sebastian Siemiatkowski told PaymentsSource in a February interview.

The funding will be used to further accelerate Klarna Group's growth, Siemiatkowski says in a March 14 press release.

Klarna, founded in 2005, is a Stockholm-based provider of alternative payment options to 25 million consumers and works with 45,000 merchants worldwide.