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Swedish fintech, Klarna, with a total value of $5.5 billion in a financing round

FILE PICTURE: People gather at Klarna office in Stockholm, Sweden, February 17, 2016. REUTERS/Mia Shanley/File Photo

FRANKFURT (Reuters) – Online payments company Klarna, which has won a growing following, with a buy-now, pay-later’ service for shoppers, said on Tuesday it had raised $460 million in a funding round, making it Europe’s most valuable fintech start up.

Investors led by San Francisco-based Dragoneer Investment Group, the new money is from the Swedish company, giving it a post-money valuation of $5.5 billion.

Reporting by Douglas Busvine; Editing by Thomas Seythal

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