Your support powers our stories
Swedish fintech giant Klarna is forging ahead with its plans to go public in the United States, undeterred by volatile market conditions. The buy now, pay later (BNPL) leader confirmed that it has confidentially filed for an initial public offering with the US Securities and Exchange Commission. If successful, Klarna’s debut on the New York Stock Exchange—under the ticker KLAR—could mark one of the most closely watched fintech IPOs in recent years, potentially valuing the company at up to $15 billion.
Klarna’s listing comes at a pivotal time for the fintech industry, which has faced a funding slowdown due to rising interest rates. However, the company has shown signs of resilience, reporting a return to profitability in 2024 with a net income of $21 million—an impressive turnaround from the $244 million loss the previous year. With revenues climbing nearly 24% to $2.81 billion, Klarna is hoping to regain investor confidence after its dramatic valuation drop from $46 billion in 2021 to just $6.7 billion a year later.
Despite ongoing market turbulence, Klarna is pressing ahead with its IPO, even as broader concerns about the economy weigh on investor sentiment. Tech stocks have taken a hit, and rival BNPL provider Affirm has seen its share price drop nearly 40% over the past month.
“Your donation helps us cover global events, ensuring everyone stays informed.”
(Source: MarketWatch | Bloomberg)
