Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.
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Klarna raises $650M at $10B valuation
Payments unicorn Klarna pulled in $650 million in a new round of equity financing that sets a mammoth valuation of $10 billion for the Swedish company.
Founded in 2005, Klarna is best known for its “buy now, pay later” offerings for online retailers. It gives customers choices such as paying for an item up to thirty days after purchase or breaking up the cost into installment payments.
- Volansi lands $50M for delivery drones: Volansi, a developer of drone technology for autonomous deliveries, has raised $50 million in fresh funding. Icon Ventures led the series B round for the San Francisco-based company, with participation from Lightspeed Venture Partners and Y Combinator.
- Sternum secures $6.5M for IOT security: Israeli security startup Sternum raised $6.5 million in a Series A funding round led by Square Peg. The company provides an embedded integrity verification technology that ensures an app hasn’t been maliciously altered in some way.
Illustration: Dom Guzman