Klarna, a Swedish fintech company, made its F-1 prospectus public on Friday, signaling the next step in its highly anticipated U.S. IPO. The company aims to raise at least $1 billion with this offering, valuing itself at $15 billion. However, the exact number of shares and price range remain unknown.
Klarna’s bankers may have reason to believe investors will support the offering, given the company’s recent financial performance. Its private valuation recently rebounded to $14.6 billion after an investor increased its stake. Additionally, Klarna reported a net profit of $21 million in 2024, up from a loss of -$244 million in 2023.
Founded in 2005 by CEO Sebastian Siemiatkowski, Klarna offers buy now, pay later financing to customers for purchases. The company has been developing its own AI system based on OpenAI’s ChatGPT and recently dropped its contract with Salesforce CRM to use internal systems instead. This move saved approximately $40 million annually and led to the replacement of 700 full-time employees, reducing its workforce from 5,000 in 2023 to around 3,500 by the end of 2024.
Klarna’s IPO has been anticipated for years, and bankers may have an idea of investors’ interest. The company will wait until it prices shares to determine if it meets its fundraising goals, typically taking a month or more after making prospectus documents public.
Source: https://techcrunch.com/2025/03/14/profitable-klarna-files-for-a-potentially-blockbuster-ipo