Commonwealth Bank’s investment in BNPL provider Klarna loses billions as valuation plummets

by Boo_Randy

“Buy now, pay later” rackets were only possible in a world awash in Yellen Bux hot money flows. But now as f**ked borrowers are drowning in debt they’ll never be able to repay, the chickens are coming home to roost.

www.news.com.au/finance/business/other-industries/commonwealth-banks-investment-in-bnpl-provider-klarna-loses-billions-as-valuation-plummets/news-story/8c04f7ed487d7fa0bd946adb4cf092d8

One of Australia’s major banks put millions into a buy now, pay later operator but it’s since fired 10 per cent of staff and its valuation dropped by $30b.