Swedish fintech giant Klarna is reigniting its ambitions for a U.S. stock market debut, setting its sights on a valuation of up to $14 billion. The company aims to raise approximately $1.27 billion by offering 34.3 million shares, with a price range anticipated between $35 and $37 per share. This strategic move signals a renewed confidence in the public markets for high-growth technology firms, following an earlier postponement in April 2025 due to prevailing market instability.
Klarna's journey to this point has been marked by significant shifts in valuation. Once a darling of the venture capital world, reaching a peak valuation of $45.6 billion in 2021, the company experienced a substantial recalibration to $6.7 billion in 2022. This adjustment reflected broader market cooling and a more cautious investor sentiment towards fintech companies. The initial plan for an IPO was shelved amidst geopolitical tensions and trade tariffs, which introduced considerable market volatility. Now, with a more stable economic climate and a demonstrated ability to adapt, Klarna is re-engaging with the public markets.
Financially, Klarna has shown resilience and progress. For the year 2024, the company reported its first annual net profit of $21 million, a significant turnaround from previous periods of loss. Revenue saw a notable increase of 22.8% year-over-year, reaching $2.8 billion in 2024. While the company did report a net loss of $53 million in the second quarter of 2025, this is often viewed within the context of aggressive expansion and strategic investment. This financial trajectory is being bolstered by a strategic pivot toward becoming a global digital bank, moving beyond its foundational buy now, pay later (BNPL) services. This evolution includes the launch of a U.S. debit card and expansion of savings products, aiming to diversify revenue streams and deepen customer engagement.
Underpinning this strategic evolution is Klarna's commitment to an AI-first approach, which is driving operational efficiencies and enhancing customer experiences. The company has reported significant cost savings in customer service and an increase in revenue per employee, demonstrating the tangible benefits of its technological investments. This focus on innovation is complemented by strategic partnerships, including collaborations with major retailers like Walmart and eBay, and payment networks such as Stripe, further solidifying its presence and growth in the crucial U.S. market, where revenue climbed 38% year-over-year in the second quarter of 2025. Klarna plans to list on the New York Stock Exchange under the ticker symbol "KLAR," with Goldman Sachs, J.P. Morgan, and Morgan Stanley serving as lead underwriters for the offering, which is expected to occur in the coming weeks. This IPO represents not just a capital-raising event, but a significant indicator of the fintech sector's capacity for renewed growth and innovation.