Swedish buy-now-pay-later company Klarna is reportedly seeking to raise funding at a fraction of its prior valuation as investors sour on consumer-facing lending startups.
Why it matters: It is, so far, one of the most dramatic examples of a fintech coming back to reality after last year's venture capital frenzy. Last valued at $45.6 billion, Klarna is now reportedly seeking to raise at a $15 billion valuation, per the Wall Street Journal.
