Swedish BNPL giant Klarna has formally filed its IPO prospectus with the Securities and Exchange Commission (SEC), confirming plans to list on the New York Stock Exchange under the symbol KLAR. The offering will be managed by major financial institutions, including Goldman Sachs, J.P. Morgan, and Morgan Stanley as lead underwriters.
Key figures from Klarna’s filing reveal:
- $105 billion in Gross Merchandise Volume (GMV)
- $2.8 billion in annual revenue
- $21 million in net profit (first profitable year)
- 93 million active consumers globally
- 675,000 merchants on the platform
While Klarna’s valuation is expected to hit $15 billion, more than double its $6.7 billion valuation from a 2022 funding round, it remains far below its 2021 peak of $46 billion. Analysts believe Klarna’s IPO will be a litmus test for investor sentiment toward fintech companies in today’s economic climate.
Further strengthening its US market ambitions, Klarna has secured a major deal with Walmart, taking over its financing services from Affirm. Klarna will power OnePay installment loans, offering three-to-36-month financing with interest rates ranging from 10% to 36%. CEO Sebastian Siemiatkowski called the partnership a “game changer”, positioning Klarna as a key player in US retail finance.