Klarna has 93 million active consumers and works with over 675,000 merchants|DealDrop.com|CC BY 2.0
Klarna Group Plc plans to list on the New York Stock Exchange and filed paperwork on Friday for an initial public offering (IPO), aiming to raise at least $1 billion at a valuation exceeding $15 billion, marking what could be one of the biggest financial listings of 2025.
The Swedish digital payments firm, known for its buy now, pay later (BNPL) services, saw revenue grow 24% to $2.81 billion in 2024. It also posted a $21 million net income, a sharp recovery from a $244 million loss in 2023.
Klarna has 93 million active consumers and works with over 675,000 merchants.
The BNPL platform rose to popularity during the pandemic as online shopping skyrocketed. At its 2021 peak, it was valued at $45.6 billion. The valuation fell drastically to $6.7 billion in 2022 as lockdowns subsided and physical stores reopened.
The company restructured in 2023, selling its Checkout business for $520 million and acquiring Laybuy’s assets.
Its valuation rebounded to $14.6 billion last October.
The IPO, filed with the Securities and Exchange Commission, is led by Goldman Sachs, JPMorgan and Morgan Stanley.