OneMain Holdings Inc
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Financials : Consumer Finance | Mid Cap Value
Company profile

OneMain Holdings, Inc. is a financial services holding company. The Company is a consumer finance company, which is engaged in providing personal loan products; credit and non-credit insurance, and service loans owned by it and service or subservice loans owned by third-parties. The Company's segments include Consumer and Insurance; Acquisitions and Servicing; Real Estate, and Other. It is engaged in pursuing strategic acquisitions and dispositions of assets and businesses, including loan portfolios or other financial assets. The Company originates and services personal loans (secured and unsecured) through two business divisions: branch operations and centralized operations. As of December 31, 2016, its combined branch operations included over 1,800 branch offices in 44 states. It offers optional credit insurance products to its customers, including credit life insurance, credit disability insurance, credit involuntary unemployment insurance and collateral protection insurance.

Closing Price
$61.51
Day's Change
1.93 (3.24%)
Bid
--
Ask
--
B/A Size
--
Day's High
61.60
Day's Low
60.50
Volume
(Heavy Day)
Volume:
1,737,429

10-day average volume:
976,143
1,737,429

'Buy now, pay later' service Klarna valued at $46 billion after new funding round

11:28 am ET June 10, 2021 (MarketWatch)
Print

By Lina Saigol

Europe's most valuable fintech startup now has more than 18 million customers in the U.S.

Swedish-based payments service Klarna has raised more than $639 million in a new private fundraising round, led by Japan's SoftBank , boosting its valuation to almost $46 billion.

The new valuation represents an increase of almost 50% from Klarna's post-money valuation of $31 billion in March, when it raised $1 billion, and cements its position as Europe's most valuable fintech startup.

Klarna allows shoppers to buy online through merchant partners including Abercrombie & Fitch (ANF), Nike (NKE) and Peloton (PTON) and split payments into interest-free installments.

The use of "buy now, pay later" products -- known in the industry as BNPL -- has surged during the COVID-19 pandemic. A recent review by the U.K. Financial Conduct Authority's former interim chief executive, Christopher Woolard, found that the value of transactions using BNPL had nearly quadrupled (https://www.fca.org.uk/publication/corporate/woolard-review-report.pdf) between January and December 2020. Overall BNPL is around 1% of the total credit market, the review determined.

Read:The buy now, pay later wave: Klarna, Affirm and rivals hope to take U.S. by storm (https://www.marketwatch.com/story/the-buy-now-pay-later-wave-klarna-affirm-and-rivals-hope-to-take-u-s-by-storm-11622225931)

Klarna plans to use the new cash injection to help support its international expansion. It has been investing heavily in the U.S., where it now has 18 million customers.

"Klarna has already successfully expanded into the U.S., and we are excited to continue supporting the team in bringing the next generation of financial services to new markets worldwide," Yanni Pipilis, managing partner for SoftBank Investment Advisers, said in a statement on Thursday.

Along with SoftBank's Vision Fund 2, the latest fundraising round included participation from existing investors Adit Ventures, Honeycomb Asset Management and WestCap Group. Klarna's other investors include Sequoia Capital, Silver Lake, BlackRock (BLK) and the Singapore sovereign wealth fund GIC.

-; 415-439-6400; AskNewswires@dowjones.com

	

(END) Dow Jones Newswires

June 10, 2021 11:28 ET (15:28 GMT)

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