Klarna Agrees €1.4 Billion Financing Facility With Santander

Klarna Group Plc secured a warehouse facility with Banco Santander SA worth as much as €1.4 billion ($1.63 billion) in its first ever deal of this kind, as it seeks to diversify its funding sources.

The Swedish fintech said in an emailed statement that the financing will be backed by receivables in its German business.