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Stockholm based e-commerce payment solutions provider Klarna has announced that Brightfolk will be buying 10% of the company from preexisting shareholders. Klarna enables payments on third-party websites and apps, with flexible purchasing options such as paying upon delivery or over time (it also handles the finance, and says it is the largest company of its kind doing that), and perhaps uniquely among finance startups it is already profitable.
This is a secondary deal: specifically, Povlsen is buying shares from existing investors General Atlantic, DST Global and co-founder Niklas Adalberth, all of whom still retain stakes as Klarna shareholders after the transaction. At Klarna’s $2.25 billion valuation, Brightfolk’s 10-percent+ stake is valued at $225 million or more. But while the company is not commenting on any of the financial terms of today’s deal, TechCrunch understands that this is an “up” round, with the valuation now higher than $2.25 billion.
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