Swedish digital payment firm Klarna has filed for an initial public offering (IPO) in the United States, seeking to raise at least $1 billion in a listing that could value the company at more than $15 billion, Bloomberg News reported.
The Stockholm-founded firm confidentially filed for the share sale in November and disclosed key financial details in a filing with the U.S. Securities and Exchange Commission on Friday.
Klarna posted a net income of $21 million on revenue of $2.81 billion in 2024, rebounding from a net loss of $244 million on revenue of $2.28 billion the previous year.
The company and some of its shareholders plan to sell shares in the offering, the filing showed. The listing comes as Wall Street evaluates the impact of recent market volatility on major IPO candidates, including AI cloud computing provider CoreWeave Inc. and medical supplies manufacturer Medline Inc.
Founded in 2005, Klarna is led by Co-Founder and Chief Executive Officer Sebastian Siemiatkowski and specializes in buy now, pay later (BNPL) financing. The sector saw rapid expansion at the start of the decade, fueled by a surge in online shopping during the COVID-19 pandemic.
Klarna’s valuation has fluctuated significantly, reaching $45.6 billion in 2021 before plunging to $6.7 billion in a 2022 private funding round. In October, analysts pegged its worth at around $14.6 billion. The firm has raised $4.8 billion in private funding, according to PitchBook data.
The company, which serves 93 million active consumers and partners with more than 675,000 merchants, spent the past year preparing for the IPO by restructuring operations, selling non-core businesses, and expanding its partnerships with major tech firms, including Apple Inc., Google Pay, and JPMorgan Chase & Co.
Klarna plans to list its shares on the New York Stock Exchange under the ticker symbol KLAR. The offering is being led by Goldman Sachs Group Inc., JPMorgan, and Morgan Stanley, alongside 11 other underwriters.