Payment Service Provider Klarna is Highest Funded Fintech in Europe

  • Tatjana Kulkarni
  • September 1, 2017
  • DataBank
  • 0

E-commerce payment service provider, Klarna is the highest funded fintech company in Europe, according to a new report released by CB Insights.

The report, released earlier this week, lists the top highest funded fintech companies in Europe. The list is topped by Klarna, which received  $598 million in funding from, among others, Visa and U.S. venture capital firm Sequoia Capital. The list closes with U.K.-based lending service provider, Wonga with $146 million in funding.

According to the report, Europe has four unicorns in the payment space: Klarna with a valuation of $2.5 billion, Adyen with $2.3 billion, TransferWise with $1.1 billion  and Funding Circle with $1 billion.

The report also shows that United Kingdom had the most fintech deals to date in Europe. Of all the deals fintech deals in Europe, the U.K accounted for 38%. Germany came second in line with 14% and Sweden came in third with 9%.

In terms of mergers and acquisitions, Europe as a whole saw a rise in deal activity, the report said. With 80 M&A transactions so far in 2017, the year is expected to reach a record high for M&A deals.

Read the full report here. 

1 - Reader Likes This Post

Leave a Reply