Klarna has opted to go public in the US after the Swedish fintech company filed IPO documents with American regulators. This decision ends long-standing speculation about when and where Klarna would choose to list its shares.
Klarna files for US IPO
The Swedish buy-now-pay-later (BNPL) giant announced that it had confidentially submitted draft paperwork for an IPO to the US Securities and Exchange Commission (SEC). However, details on the number of shares to be offered and the pricing range are yet to be finalized.
Klarna noted that the IPO will proceed once the SEC completes its review, pending market conditions and other factors.
The decision to list in the US comes as Klarna continues to expand aggressively in the country, which has now become its largest market by revenue.
CEO hinted at potential IPO in 2025
Earlier this year, CEO and co-founder Sebastian Siemiatkowski hinted at a potential IPO in 2025, suggesting a preference for the US while also considering Europe as a possible venue.
According to Bloomberg, Klarna shareholder Chrysalis recently increased the valuation of its stake in the company to $154 million, implying an overall valuation of around $14.6 billion for Klarna. This is a significant drop from its peak valuation of $45.6 billion during a funding round in 2021.
