Israeli-Swedish Klarna raises $155M

Israeli-Swedish e-commerce payments company Klarna has completed a large financing round to the tune of $155 million.The mega-round was led by Russian businessman Yuri Milner’s investment fund DST, known for its investments in Facebook and Twitter; Sequoia VC fund and …

Israeli-Swedish e-commerce payments company Klarna has completed a large financing round to the tune of $155 million.

The mega-round was led by Russian businessman Yuri Milner’s investment fund DST, known for its investments in Facebook and Twitter; Sequoia VC fund and General Atlantic.

Klarna announced that the money would be used to hire 30 new employees for its Israel R&D center in Tel Aviv.

The company was founded in 2005 and has headquarters in Stockholm.

Klarna’s revolutionary product is basically the reverse of PayPal and other online payment ventures. It allows customers to pay for products ordered online only after they receive the product they ordered.

Klarna operates in Europe only and counts some six million subscribers. The company’s earnings in 2011 are estimated at $120 million.

About Viva Sarah Press

Viva Sarah Press is an associate editor and writer at ISRAEL21c. She has extensive experience in reporting/editing in the print, online and broadcast fields. She has jumped out of a plane, ducked rockets and been attacked by a baboon all in the name of a good story. Her work has been published by international media outlets including Israel Television, CNN, Reuters, The Jerusalem Post and Time Out.