London (CNN Business) Klarna, the "buy now, pay later" payment service loved by Europeans, has been valued at $10.65 billion in an investment round led by US private equity firm Silver Lake. The company said it's now the most valuable private financial technology business in Europe. H&M HNNMY Asos ASOMY Adidas ADDDF Klarna allows online shoppers to pay for purchases in interest-free installments or through financing. In the United States, Klarna competes with rivals including Affirm and Afterpay, which is branded Clearpay in Europe. "Buy now, pay later" services appeal in particular to younger consumers, who frequently shop online and may not have credit cards.

Source: CNN September 15, 2020 14:37 UTC