Klarna Bank is preparing to file for an initial public offering in the United States as early as next week, aiming to raise at least $1 billion and secure a valuation exceeding $15 billion in its planned New York Stock Exchange listing, according to a Bloomberg report.
According to a person familiar with the subject, the Stockholm-based purchase now, pay later company discreetly submitted its IPO file to the U.S. Securities and Exchange Commission in November 2024). Though the time and specifics are still unknown, the IPO price is likely in early April.
Klarna works with 15 banks on the listing, including Goldman Sachs (GS, Financials), JPMorgan Chase & Co. (JPM, Financials), and Morgan Stanley (MS, Financials). The technology IPO market has slowed after a record-setting 2021 wave, making the offering likely to be significant.
Reflecting increasing investor interest in the field, several financial technology companies like Chime Financial and Zilch Technology are also exploring IPOs this year. The worth of Klarna has changed recently; it peaked at $45.6 billion in 2021 then dropped to $6.7 billion in 2022. Last year, analysts projected the company's value at around $14.6 billion.
Leading venture capitalist business Sequoia Capital supports the startup. Recently on X, previously known as Twitter, Sebastian Siemiatkowski, the Chief Executive Officer of Klarna, has said the business is investigating bitcoin prospects and plans to "embrace crypto."
