Tiger

If the fiascoes at WeWork Inc. and Greensill Bank AG were not enough, Klarna Bank AB should serve as another fine reminder that SoftBank Group Corp. is the ...

Founder Masayoshi Son somehow always manages to hold the worst cards. The Sweden-based fintech, known for its buy-now-pay-later offering, is in talks to raise about $650 million — mostly from existing investors led by Sequoia Capital. If completed, this deal would reset Klarna’s valuation to $6.5 billion, a fraction of the $45.6 billion it was priced at just a year ago in a $639 million funding round led by SoftBank. If the fiascoes at WeWork Inc. and Greensill Bank AG were not enough, Klarna Bank AB should serve as another fine reminder that SoftBank Group Corp. is the unluckiest whale in a crowded venture capital world.