Swedish buy now, pay later lender Klarna is poised to make its debut on the New York Stock Exchange, following a successful initial public offering that raised $1.37 billion. The fintech company, known for its innovative payment solutions, sold 34.3 million shares at a price of $40 each, resulting in a valuation of approximately $15.1 billion based on outstanding shares. This marks a significant decrease from its peak valuation of $45.6 billion in 2021, which was bolstered by an investment from Japan’s SoftBank Group. However, it is an increase from the $6.7 billion valuation recorded in 2022, following a private funding round that reflected the company’s challenges amid a turbulent market environment.
Earlier this year, Klarna temporarily put its IPO plans on hold due to growing tariff volatility that was impacting financial markets. Now, as the company moves forward, it is ushering in a busy week for initial public offerings, with seven other companies, including Gemini, the cryptocurrency exchange founded by the Winklevoss twins, also preparing to make their market entries this week. Klarna’s comeback to the IPO scene underscores the fintech sector’s resilience and the ongoing appetite from investors for innovative financial services, despite previous market fluctuations.
