UAE - Mubasher: Mubadala Investment Company has made its first investment in the new $800 million financing round closed by Klarna, a Sweden-based fintech company offering payment and shopping services.

The financing was supported by Klarna's existing investors including Sequoia, Silver Lake, and Commonwealth Bank of Australia, alongside other entities that invested for the first time in the company, according to a recent press release.

These entities included the UAE-based Mubadala and the Canada Pension Plan Investment Board (CPP Investments).

The company will benefit from the financing in expanding its market position in the US.

The CEO of Klarna, Sebastian Siemiatkowski, said: "It is a testament to the strength of Klarna’s business that, during the steepest drop in global stock markets in over fifty years, investors recognized our strong position and continued progress in revolutionizing the retail banking industry."

Meanwhile, the Partner at Sequoi, Michael Moritz, commented: "The irony is that Klarna’s business, its position in various markets and its popularity with consumers and merchants are all stronger than at any time since Sequoia first invested in 2010."