Klarna, a Swedish Buy Now, Pay Later (BNPL) giant, has filed paperwork with the US Securities and Exchange Commission (SEC) related to an initial public offering (IPO). The company announced on March 14 that it had submitted a registration statement on Form F-1, which includes a preliminary prospectus outlining its financial performance and potential risk factors.
Klarna is a fintech firm based in Sweden, known for its BNPL services. As of 2024, the company boasts approximately 93 million active users and 675,000 merchants as partners across 26 countries. Klarna facilitated $105 billion of gross merchandise volume last year alone.
The company was founded in 2005 under the name “Kreditor” and rebranded as Klarna in 2010. Initially profitable for its first 14 years, Klarna expanded to the US in 2019 but faced net losses. However, operating losses started to decline in 2023, and the company began generating positive Transaction margin dollars in the US.
Klarna’s IPO plans include trading on the New York Stock Exchange (NYSE) under the ticker “KLAR.” The company is seeking to raise at least $1 billion USD but could reach a valuation of over $15 billion if successful.
Source: https://www.fastcompany.com/91299505/klarna-ipo-date-nears-stock-listing-sec-bnpl-profit