Swedish fintech company Klarna, known for its “Buy Now, Pay Later” (BNPL) services, has officially filed for an initial public offering (IPO) in the United States. The company plans to list its shares on the New York Stock Exchange under the ticker “KLAR”.
Through the IPO, Klarna aims to raise at least $1 billion, targeting a valuation of over $15 billion. While this is significantly lower than its $45.6 billion peak valuation in 2021, it represents a strong rebound from a low of $6.7 billion in 2022.
Klarna is actively expanding its U.S. presence. Most notably, it recently became the exclusive BNPL provider for Walmart in the U.S., replacing Affirm. This partnership allows Walmart customers to access installment plans ranging from 3 to 36 months, both online and in-store.
The company’s financial performance shows positive momentum. In 2024, Klarna processed over 2.8 billion transactions and reported net income of $21 million, signaling a return to profitability after losses tied to international expansion.
The U.S. IPO marks a major milestone in Klarna’s growth journey, reinforcing its position in the global fintech arena and unlocking new avenues for expansion and innovation.
