Danish fashion tycoon invests in Swedish payments firm Klarna – ETRetail.com

"Danish

STOCKHOLM</a>: Anders Holch Povlsen</a>, owner of Danish fashion retailer Bestseller, is buying a stake in payments firm Klarna</a>, one of Europe's most highly valued tech startups, the firm said on Wednesday.</p>

A Klarna spokeswoman declined to touch upon the exact dimension of the stake, however stated it might be not less than 10 p.c.</p>

Based in 2005 and backed by traders reminiscent of Sequoia Capital</a> and Atomico, Klarna is one of Europe's so-called tech unicorns with a $2.25 billion valuation at the end of 2015.</p>

Klarna stated Povlsen</a>'s company Brightfolk</a> would buy shares from General Atlantic, DST Global and Niklas Adalberth</a>, who will all still retain stakes in the firm.</p>

"I'm delighted to welcome such a robust accomplice into Klarna," co-founder and CEO Sebastian Siemiatkowski</a> said in a statement.</p>

Bestseller contains manufacturers reminiscent of Jack &amp; Jones, Vero Moda, Solely and Chosen. Povlsen additionally has vital holdings in e-commerce fashion websites Asos and Zalando.</p>

Klarna stated it had seen sturdy transaction quantity progress in the primary months of this yr, after progress of 50 p.c final yr, partly pushed by 17,000 new retailers in totally different markets.</p>

The firm, which has ,500 workers and operates in 18 international locations, elevated its revenues by 20 p.c to 992 million crowns ($114.four million) in the primary quarter, whereas working revenue rose to 138 million from 31 million.</p>

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Danish fashion tycoon invests in Swedish payments firm Klarna - ETRetail.com