Sequoia Capital Reaps $2.7 Billion Gain on Klarna Bet in IPO (1)

Klarna Group Plc’s market debut handed a multibillion-dollar windfall to venture capital heavyweight Sequoia Capital, capping a bumpy ride for the fintech behemoth and its biggest investor that included a boardroom brawl and wild swings in valuation.

The buy-now, pay-later company and some of its backers sold 34.3 million shares for $40 per share, according to a statement Tuesday, giving Klarna a market value of about $15.1 billion.

The listing was a boon for the venerable Silicon Valley venture capital firm, which has invested about $500 million total in the company over the years, according to a person familiar ...