Klarna launched its long‑awaited US IPO, offering 34.3M shares at $35–$37 and targeting a valuation of up to $14B, in a test of investor appetite for BNPL names. Pricing is expected next week.
Overview
The Swedish BNPL giant revived its listing plans after a tariff-driven market pause, lining up banks including Goldman Sachs and JPMorgan. Media reports suggest potential pricing could come around next week.
Key Terms
Offer size: 34.3M shares (5.5M new; ~28.8M secondary)
Range: $35–$37 per share; proceeds up to ~$1.27–$1.46B depending on mix
Implied valuation: Up to ~$14B at the top end
Why It Matters
A successful debut could reopen the late-2025 fintech IPO window and test investor appetite for BNPL economics after a sharp valuation reset from the 2021 highs.
Sector Context
Coverage highlights mixed comparisons versus Affirm and broader payment rails. Klarna is pitching expansion into banking, advertising, and retail enablement as a way to diversify growth.
Sources
Company press release; Reuters; WSJ; Bloomberg; PaymentsDive; TechCrunch; Yahoo Finance; Svenska press.
