Swedish fintech giant Klarna is reigniting its plans for a US public offering, aiming to raise up to $1.27 billion in a deal that would value the company at up to $14 billion. In a filing on Tuesday, the buy now, pay later (BNPL) pioneer said it plans to list on the New York Stock Exchange under the ticker symbol “KLAR.”
The offering will consist of roughly 34.3 million shares priced between $35 and $37 each, according to a statement filed with the SEC. Klarna itself will offer about 5.6 million shares, with the remaining majority—nearly 29 million shares—being sold by existing shareholders, including prominent backer Sequoia Capital. Goldman Sachs, JP Morgan, and Morgan Stanley are leading the deal.
The IPO marks a significant moment for Klarna, which has been on a valuation rollercoaster for years. After a pandemic-fueled boom, the company hit a staggering $45.6 billion valuation in a 2021 funding round before a market downturn saw its valuation plummet 85% to $6.7 billion just a year later. The company has since worked to improve its financials, reporting $823 million in revenue for the second quarter and narrowing its net loss by 42% year-over-year to $53 million.
The listing comes as Klarna pivots from a pure BNPL service to a broader digital bank, launching Visa debit cards and expanding into savings products. The company, founded in 2005, now serves 111 million active consumers and has been steadily growing its footprint ahead of the IPO, which was previously delayed due to market volatility earlier this year.
Sources
- CNBC: Klarna aims to raise up to $1.27 billion in U.S. IPO
- Reuters: Sweden’s Klarna targets up to $14 bln valuation in eagerly awaited U.S. IPO
- TechCrunch: Klarna revives IPO plans, aims to raise $1.27B
- AInvest: Klarna’s Resurgent IPO: A Deep Dive into its Fintech Market Position, Strategic Shift, and Digital Banking Ambitions
- PitchBook: Klarna seeks to raise $1.27B in long-awaited US IPO
