Specialist traders were active at the post for Klarna, a Swedish fintech company, during its initial public offering (IPO) on the New York Stock Exchange on September 10, 2025. The much-anticipated debut saw Klarna’s stock rise as much as 30% on its opening day before stabilizing, ultimately closing at approximately 15% higher than its IPO price of $40. After experiencing some volatility, the share price settled at $42.92 by the following Friday, still reflecting a 7% increase from its initial offering.
Klarna’s successful IPO is indicative of a growing openness among investors toward significant listings in the fintech sector. The positive reception of Klarna’s stock echoes the earlier performances of companies like eToro, Circle, and Bullish, which also enjoyed favorable conditions during their public debuts. Additionally, the crypto exchange Gemini saw a 14% increase in its stock price following its IPO, illustrating an encouraging trend for fintech companies looking to go public.
Experts believe that Klarna’s debut could signal a green light for other sizeable fintech companies eyeing the public markets. Gautam Pillai, head of fintech research at Peel Hunt, expressed optimism, suggesting that Klarna’s performance might encourage other established vendors in the fintech space to consider going public.
Several companies are now speculated to be potential candidates for future IPOs, with Stripe at the forefront. The digital payments powerhouse has remained private since its inception 15 years ago, although co-founders John and Patrick Collison have hinted at either a public offering or a secondary share sale within the next year. In January, Stripe opted for a secondary sale that valued the company at $91.5 billion, a figure close to its peak valuation from 2021. As the fintech market evolves, industry leaders are closely monitoring Klarna’s performance to gauge the optimal timing for any Nasdaq or NYSE listings.
Another fintech company under scrutiny is Revolut. Recently, the digital bank initiated a secondary share sale that valued it at $75 billion, surpassing some major UK banks’ market capitalizations. While the firm aims to provide employees with liquidity opportunities, CEO Nikolay Storonsky has previously stated a clear preference for a U.S. listing, criticizing the current state of London’s IPO market.
British digital bank Monzo, which achieved a valuation of $5.9 billion in a recent secondary share sale, is also eyeing potential flotation. Despite rumors of an IPO being arranged for early 2026, Monzo’s CEO, TS Anil, has indicated that the company is currently focused on scaling operations rather than pursuing an immediate public offering.
Starling Bank, another challenger in the neobank landscape, has reportedly been contemplating an IPO in the U.S. to support its expansion initiatives. Starling’s recent hiring of Jody Bhagat signifies its ambitions for growth in the U.S. market, although details about any planned IPO remain unconfirmed.
Less prominently, the Bulgarian fintech firm Payhawk has expressed aspirations to pursue an IPO within a five-year timeframe. CEO Hristo Borisov pointed to significant revenue growth, indicating that they are aiming for substantial annual recurring revenue targets before entering the public space.
In addition to these candidates, other companies like Ripple and Germany’s N26 are also speculated for future IPOs, albeit with more uncertainty surrounding their trajectories. Ripple has paused its IPO plans due to regulatory pressures, while N26 is navigating leadership changes and investor concerns over its regulatory compliance.
As the fintech landscape continues to evolve post-Klarna, various companies are now reconsidering their timelines for potential public offerings, watching closely to see how the market responds in the wake of this significant IPO.
