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Reports: Fintech startup Klarna could receive $40B+ valuation in new funding round

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Klarna Bank AB is raising funding at a valuation of more than $40 billion, according to a series of new reports.
The news was first reported by Business Insider early this morning. Three sources later told Reuters that the round could bring Klarna’s valuation closer to $50 billion than $40 billion, while CNBC cited a tipster as saying that SoftBank Corp.’s Vision Fund 2 is one of the participating investors. Klara is expected to raise less than $1 billion in the round.
Sweden-based Klarna provides a platform that online retailers can use to let their users pay for purchases in multiple installments at a later date. The startup’s installed base includes more than 250,000 retailers worldwide, among them major brands such as Macy’s Inc. and Sephora USA Inc. ....

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Automatated manufacturing startup Bright Machines to go public in $1.6B SPAC merger

Automatated manufacturing startup Bright Machines to go public in $1.6B SPAC merger
bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.com Daily Mail and Mail on Sunday newspapers.

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US inches toward payments modernization while China races ahead

US inches toward payments modernization while China races ahead
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A wave of digital transformation has swept the world during the past year, driven by a global pandemic and wholesale adoption of cloud-connected tools. But there’s little sign of all that change when you try to do something as seemingly simple as buying something in a store.
As many a shopper can attest, paying for goods in a U.S. store with a credit or debit card may still require picking up a digital pen and awkwardly scratching out a signature on a point-of-sale keypad screen, technology that’s decades old. Has the latest wave of digital modernization missed the payments business? ....

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Fintech pitched as credit lifeline for newly arrived immigrants

Fintech pitched as credit lifeline for newly arrived immigrants
msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.

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Why Fintech Battles Ahead Are About More Than Banks - The Washington Post

The field known as fintech was pioneered by startups dreaming of toppling financial giants and democratizing access to credit. But now many of those behemoths have joined in. JPMorgan Chase & Co. has a history running back to the days of Alexander Hamilton, but it’s also got 50,000 employees working on its technology. It’s not just banking giants getting in on the fun. Recent steps by Walmart Inc., the world’s largest retailer, to create a fintech division has sent shivers across Wall Street ....

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