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Invariant has picked up Klarna, a leader in the competitive “buy now, pay later” space that has been squeezed by rising interest rates.
Founded in Sweden in 2005, Klarna had ranked as Europe’s biggest start-up with a market valuation of $45.6B. That valuation is now in the $6.5B range, according to the Wall Street Journal.
The company has retail partnerships with 450K retailers across the globe, including Macys, Saks Nike, Sephora and Ikea.
Invariant is advising Klarna on banking, short-term credit and payments issues.
The Klarna team includes Carolyn Coda, who handled federal affairs at Swiss Re; Noah Marine, a veteran of Travelers Insurance; Matt Russell, House Ways and Means Committee staffer; Quincy Enoch, National Assn. of Mutual Insurance Cos alum; and Joseph Vaughan, an advisor on the House Financial Services subcommittee on diversity and inclusion matters.
Edelman handles Viking Holdings, the river and ocean luxury cruise line that plans to raise $1B via an IPO priced in the $21 to $25 per share range.
Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
Tod Donhauser, a nine-year veteran of Edelman, has joined H/Advisors Abernathy as managing director and head of its San Francisco office.
Intelligent Group Ltd, a Hong Kong-based financial PR firm, has priced its initial public offering of 1.9M shares at $4, which is the low end of the $4 to $5 range.
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