Swedish fintech firm Klarna has announced a significant revenue jump of 24% in 2024, driven by its “buy now, pay later” model. The company’s valuation has soared from $5.5 billion to $46.5 billion over two years, fueled by three funding rounds.
Klarna’s revenue grew to $2.81 billion in 2024, surpassing $2.28 billion in the previous year. The “buy now, pay later” market is projected to reach $160 billion by 2032, with retailers like Walmart and Target joining fintech firms like Klarna and Affirm.
The company reported a profit of $21 million in 2024, compared to a loss of $244 million the previous year. CEO Sebastian Siemiatkowski had initially considered a direct listing but instead raised funds at a reduced valuation of $6.7 billion.
Klarna has partnered with major brands like Sephora and Nike, and plans to list on the New York Stock Exchange under the ticker symbol KLAR. Goldman Sachs, JP Morgan, and Morgan Stanley are among the lead underwriters.
Source: https://www.theguardian.com/business/2025/mar/14/klarna-revenue-stock