Source: Sharecast
The Swedish buy now, pay later (BNPL) provider said it would sell 34.3 million shares, priced between $35 and $37 each, after shelving an earlier listing in April when market volatility followed fresh US trade tariffs.
It marked a key moment for a company that was valued at $46bn in 2021 before falling below $7bn last year as higher interest rates and concerns over the BNPL model weighed on sentiment.
Founded in 2005, Klarna became one of Europe’s highest-profile fintechs by letting shoppers split purchases into interest-free instalments.
It boasts about 111 million active users and nearly 800,000 merchant partners worldwide, including brands such as Zara, H&M and Sephora.
The company had broadened its offerings in recent months, launching debit cards in Europe and the US, applying for financial licences and signalling interest in a US banking licence after going public.
Analysts said Klarna’s IPO would be a bellwether for high-growth fintechs following a run of strong debuts from companies such as software group Figma and crypto exchange Bullish.
A successful listing could signal renewed confidence in digital finance after years of market turbulence, while a weak reception might underline concerns about regulation, profitability and consumer credit risks.
The company, backed by investors including Sequoia Capital and Heartland A/S, would trade on the New York Stock Exchange under the ticker ‘KLAR’, with Goldman Sachs, JPMorgan and Morgan Stanley leading the underwriting.
Reporting by Josh White for Sharecast.com.