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SoftBank is backing buy-now-pay-later firm Klarna in funding round that values it at over $40 billion

Mount Equity Group Tokyo, Japan > News > Tech > SoftBank is backing buy-now-pay-later firm Klarna in funding round that values it at over $40 billion

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9984.T-JPKlarna CEO Sebastian Siemiatkowski speaks at a technology and music conference in Stockholm, Sweden.Johan Jeppsson | Bloomberg via Getty Images

Klarna, a European buy-now-pay-later company, is close to securing a new funding round at a valuation of more than $40 billion, according to a source familiar with the matter.

The investment is being backed by SoftBank and multiple other investors, said the person, who asked to remain anonymous as the details have not yet been made public.

The news, which comes ahead of a potential blockbuster stock market listing, was first reported Thursday by Business Insider.

The exact size of the investment round is unknown. However, it is expected to be less than the $1 billion that Klarna raised in March, when it was valued at $31 billion, according to Business Insider.

Klarna declined to comment when contacted by CNBC.

Klarna is already listed as a portfolio company on SoftBank’s website through the firm’s Vision Fund 2. Klarna is also backed by big-name investors like Snoop Dogg and China’s Ant Group. A SoftBank spokesperson was not immediately available to comment.

If the deal goes through, Klarna will cement its place as European’s most valuable private tech unicorn, surpassing the likes of Amazon-backed food delivery service Deliveroo and