Klarna Group (KLAR) began trading on the NYSE on Thur 10 Sept 25

Klarna Group Plc operates as an investment holding company. It provides an e-commerce payment solutions for merchants and shoppers. The firm connect an array of different financial services and commerce organizations, from PSPs, traditional banks, card networks and open banking providers, to commerce enablers, technology partners, in-store payments providers and shipping and return logistics providers. 

• Sector: Technology
• Industry: Software - Infrastructure
• Full Time Employees: 3,778
• Founded by Gustav Erik Niklas Adalberth, Karl Anders Victor Jacobsson, and Sebastian Marcin Siemiatkowski in 2005 
• Headquartered in London, the United Kingdom
• https://www.klarna.com/uk

Klarna Group plc opened at $52 after pricing 34,311,274 share IPO at $40.00 per share, above the $35-37 expected range

• 2 days later

Klarna is restarting its IPO plan

Swedish fintech company Klarna is reportedly restarting its plan for a U.S. initial public offering (IPO) as early as September 2025. Sources indicate the company is aiming for a valuation of $13 billion to $14 billion, a notable decrease from the nearly $50 billion it sought in 2021. 

IPO timeline and background

• March 2025: Klarna publicly filed registration documents for its IPO with the U.S. Securities and Exchange Commission (SEC) under the ticker symbol "KLAR," with plans to list on the New York Stock Exchange.
• April 2025: The company paused its plans, citing market volatility following the announcement of new tariffs by the U.S. government.
• August 2025: Amid improving equity markets, reports emerged that Klarna is reviving its IPO plans for September. 

Reported offering details

• Target valuation: Between $13 billion and $14 billion.
• Fundraising goal: To raise close to $1 billion from the offering.
• Share price estimate: Shares could be priced between $34 and $36. 

Factors influencing the IPO

Positive indicators:

• IPO market revival: The market for U.S. tech and fintech IPOs has strengthened throughout 2025, with strong debuts from companies like Figma and Circle.
• Improved financial metrics: Klarna's comparable revenue and adjusted operating profit grew in the second quarter of 2025. Delinquency rates have also decreased.
• Business expansion: The company is expanding beyond its "buy now, pay later" (BNPL) roots by introducing debit cards and other banking services.

Potential challenges:

• Valuation drop: The expected valuation is far lower than the $45.6 billion peak it reached in 2021.
• Lingering market volatility: Concerns over trade wars and market instability could pose a risk.
• Operational issues: The company disclosed a "material weakness" in its financial controls and is under investigation by the Swedish Consumer Agency. 

Buy now, pay later lender Klarna files for U.S. IPO

• Klarna filed its IPO prospectus on Friday and plans to go public on the New York Stock Exchange under ticker symbol KLAR.
• Klarna’s top competitors include Affirm and Afterpay, which is owned by Block.
• Block, Affirm and PayPal are each bolstering their portfolios of financial products, including debit, lending and payment offerings, as they try to capture more consumer attention and spending.

Klarna, headquartered in Sweden, hasn’t yet disclosed the number of shares to be offered or the expected price range.

The decision to go public in the U.S. deals a significant blow to European stock exchanges, which have struggled to retain homegrown tech companies. Klarna CEO Sebastian Siemiatkowski had hinted for years that a U.S. listing was more likely, citing better visibility and regulatory advantages.

Klarna is continuing to rebuild after a dramatic downturn. Once a pandemic-era darling valued at $46 billion in a SoftBank-led funding round, Klarna saw its valuation slashed by 85% in 2022, plummeting to $6.7 billion in its most recent primary fundraising. However, analysts now estimate the company’s valuation in the $15 billion range, bolstered by its return to profitability in 2023.

Revenue last year increased 24% to $2.8 billion. The company’s operating loss was $121 million for the year, and adjusted operating profit was $181 million, swinging from a loss of $49 million a year earlier.

Klarna is the latest upstart to file for a U.S. IPO as tech companies look to hit the public market following a historically slow stretch for new offerings. Earlier this month, CoreWeave, a provider of cloud-based Nvidia processors to companies including Meta and Microsoft, filed its prospectus.

Cloud software vendor ServiceTitan hit the market in December, marking the first significant venture-backed tech IPO since Rubrik’s

 debut in April. A month before that, Reddit

 started trading on the NYSE. There haven’t been many other tech IPOs of note in the U.S. since late 2021, when rising interest rates and soaring inflation pushed investors out of risky assets.