Online payment-solutions company Klarna has made a move that furthers its goal to become “the world’s favorite way to buy.” The Ohio-based company has gone live with SAP’s Smart Accounting for Financial Instruments, (Smart AFI).

The new solution, which is compliant with International Financial Reporting Standards (IFRS) and U.S. GAAP standards, comes as a part of SAPs Bank Analyzer 9.0 release. Using the new offering, Klarna will supply a centralized sub-ledger for banks that integrates directly into a company’s accounting-documentation chain. The facilitated integration will allow for easier geographical expansion, since it can handle multiple GAAP policies and the ability to offer more products.

“Our growth necessitated a centralized accounting system, one that gave us visibility across regional lines of business,” says Klarna VP Max Fischer. “We were concerned that getting that visibility would take a substantial amount of time and resources, but with SAP we were able to do it in only three months and with zero lag time in operations. It’s had a positive impact on our business.”

Klarna serves 45 million customers and works with 65,000 ecommerce merchants. At FinovateSpring 2012, the company demoed its technology that offers after-delivery payment, which ensures buyers receive the goods they ordered before the payment is due. As a perk to retailers, Klarna assumes the credit and fraud risk of a transaction to ensure retailers receive payment. Spotify, Disney, and Samsung are among the company’s clients.

Founded in Stockholm in 2005, and making its U.S. debut just one year ago, the company is headquartered in Columbus, Ohio, and has offices in San Francisco and New York City. Klarna raised $35 million bringing its total funding to $291 million from 12 investors.

One small step for Klarna. One giant leap for fintechs considering financing beyond equity investment.

The Swedish payments innovator is raising $32.2 million (300 million crowns) via a subordinated-note sale to “a limited number of large Nordic investors.” The 10-year, floating-rate notes come with an initial 4% coupon, which is based on the 3-month STIBOR plus 4.5%.

Speaking about the financing, Klarna’s Erik Engellau-Nilsson said that the funding was the company’s “first small step to a wider presence in debt capital markets.” The goal of the financing was first to fund Klarna’s accelerated growth, which Engellau-Nilsson credited to expansion into U.S. and U.K. markets. He said the second goal was to “test the debt capital markets, and see what the appetite was like.”

Jakob Söderbaum, SVP sales, demonstrated Klarna at FinovateSpring 2012 in San Francisco.

Testing the debt capital market will help Klarna diversify its funding sources. The company has raised more than $285 million in equity including £90 million in private equity to finance the acquisition of Sofort in 2014.

While much of the growing use of debt financing in fintech can be attributed to the rise of alternative lenders who may be institutionally more comfortable with debt, Klarna’s latest financing is a reminder that the debt capital markets are an option for a wide variety of fintechs. Consider the $60 million debt financing deal for Finovate alum Yapstone (payments); the $2.5 million debt financing for Socure; and $3 million in venture debt for ID.me (authentication); and the $1 million in debt financing for DeviceFidelity (hardware). Ahead of this latest financing, Klarna was believed to have a valuation of more than $2 billion.

Available at 65,000 online stores and with 45 million consumers using the technology, Klarna enables more efficient e-commerce by allowing shoppers to receive goods first and then pay for them within 14 days of delivery. Klarna assumes all credit and fraud risk, making the process safer for online merchants, and requires only minimal, top-of-mind information from consumers (i.e., name and address). The company says its revenues grew by 27% year-over-year (2.2 billion crowns in 2014 versus 2.8 billion crowns in 2015) and expects revenue gains of 40% in 2016 due in large part to Klarna’s U.S. expansion last fall.

Founded in 2005 and headquartered in Stockholm, Sweden, Klarna demonstrated its payment technology at FinovateSpring 2012. In June, the company was named to the CNBC Disruptor 50 list for a second year in a row and in May, Klarna announced that its payment-processing technology would be made available to brick-and-mortar merchants. The company announced a partnership with UK e-commerce host, EKM in April, the same month Klarna earned a spot on FinTechCity’s inaugural FinTech50 Hall of Fame.