Fintech Klarna reportedly raising at a $6.5B valuation, giving new meaning to the phrase ‘down round’

In a sign of the times, Swedish buy now, pay later giant Klarna is reportedly close to inking a new round of funding that would slash its valuation to $6.5 billion – about 7x of what the company was valued in June of 2021.
The Wall Street Journal reported today, citing anonymous sources, that Klarna was “negotiating to raise about $650 million mostly from existing investors led by Sequoia Capital.” Sequoia chairman Michael Mortiz is also chairman of the embattled payments giant.
The deal is still in the works, reported the Journal. But if completed, it will represent a big fall from grace for

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