August 25, 2017 / 11:51 AM / in 3 months

Swedish payment services firm Klarna H1 net profit 228 million SEK

STOCKHOLM (Reuters) - Swedish online payment services firm Klarna, one of Europe’s highest-valued tech startups, on Friday reported a net profit of 228 million crowns ($28.4 million) for the first six months of the year on sales of 2.05 billion.

The firm, which has 1,500 employees and operates in 18 countries, increased revenues by 21 percent and net profit by 138 percent from a year earlier.

“We are pleased with the continued strong growth trajectory across all markets, increased merchant base and increased volumes recorded,” Klarna spokeswoman Aoife Houlihan said in an email to Reuters.

Founded in 2005 and backed by investors such as Sequoia Capital and Atomico, Klarna is one of Europe’s so-called tech unicorns - a start-up with a valuation of more than $1 billion. At the end of 2015, its estimated valuation was $2.25 billion.

($1 = 8.0326 Swedish crowns)

Reporting by Olof Swahnberg and Helena Soderpalm; Editing by Anna Ringstrom and Mark Potter

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