Swedish payments firm Klarna, one of Europe’s most highly valued tech startups, said on Monday it had tapped debt markets for the first time, issuing subordinated notes totaling 300 million crowns ($35.2 million).The move comes as other technology firms are also opting for debt rather than equity to raise fresh funds.Klarna, whoch handles about 10 percent of all online transactions in Europe and launched last year in the United States on online payments giant Paypal’s home turf, said it issued debt to support its expansion and diversify funding. It added that this issue was a first small step to a wider presence in debt capital markets.”First is to fund our accelerated growth – we are picking up speed in our year-on-year revenue growth because of success of recent product launches and markets expansion in the U.S. and U.K.,” said Klarna spokesman Erik Engellau-Nilsson.
Källa: Swedish payments firm Klarna taps debt market for the first time | Reuters
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