(Alliance News) - Merian Chrysalis Investment Co Ltd on Tuesday announced a USD50 million investment in global payments provider Klarna Holding AB.
The USD50 million was part of a USD460 million funding round, which was conducted by Klarna and included investment from Commonwealth Bank of Australia and Dragoneer Investment Group. Klarna will used the funds to scale across markets.
At a previous funding round in April, Klarna raised above its then USD100 million target. According to Merian Chrysalis, Klarna "offers direct payments, pay after delivery options and instalment plans" and is used in 14 countries and was founded in Stockholm, Sweden.
Richard Watts, Merian Chrysalis's portfolio manager, said: "Klarna has built a highly-impressive, digital payments system, trusted by both retailers and consumers. By simplifying and improving the flexibility of the payments process, retail partners working with Klarna have seen considerable improvement in customer engagement and sales. Klarna is one of Europe's great FinTech success stories and the company continues to develop truly innovative payment solutions. This latest funding round will enable the company to execute on its ambitious international growth plans."
Following the Klarna investment and a previously disclosed investment in Embark Group, Merian Chrysalis has now invested 73% of its capital.
Shares in Merian Chrysalis were down marginally at 131.98 pence on Tuesday afternoon.