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Klarna looking to raise new funds at over $40 bln valuation - report

STOCKHOLM, May 27 (Reuters) - Swedish payments firm Klarna is close to finalizing a new funding round led by SoftBank that could lift the company’s valuation to above $40 billion, Business Insider reported citing sources.

Klarna in March raised a new $1 billion private fundraising round, tripling its valuation to $31 billion in less than six months.

The size of the cash injection is not yet finalized but is expected to be around $500 million, according to the report here.

A Klarna spokesperson declined to comment. (Reporting by Supantha Mukherjee, European Technology & Telecoms Correspondent, based in Stockholm; Editing by Johan Ahlander)

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