Swedish fintech giant Klarna files for IPO at the New York Stock Exchange
On Friday, Stockholm-headquartered fintech giant Klarna filed for its long anticipated IPO at the New York Stock Exchange, and made a preliminary F-1 prospectus public.
- The public documents don’t yet reveal how many shares the company plans to sell or the price range.
- For 2024, Klarna reports revenue of $2.8B, up from around $2.3B in 2023. It also reported a net profit of $21M for year, vs a loss of -$244M in 2023.
- The IPO is expected to be the largest fintech event since Coinbase' direct listing in 2021.
- Klarna investors include Sequoia Capital, SoftBank, Silver Lake, Dragoneer, Ant Group, Visa, Atomico, Northzone, GIC, TCV, BlackRock, Commonwealth Bank of Australia, Mubadala, and Canada Pension Plan Investment Board.
- Klarna is now entering the legally mandated "quiet period", meaning we'll see less attention-grabbing public comments from Klarna CEO and co-founder Sebastian Siemiatkowski until the IPO day.
- The share price of Klarna's US-based publicly traded competitor Affirm has dropped 30% during the past 30 days, amid the overall market correction.
