Swedish financial technology company Klarna has filed a package of documents with the US Securities and Exchange Commission as a request for an initial public offering (IPO). The number and price range of the shares have not yet been determined, Reuters reports.
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The application was submitted confidentially, allowing for disclosure of financial and legal information later than in a standard submission.
In August, Klarna CEO Sebastian Siemiatkowski hinted at a possible initial public offering (IPO) next year, saying it “sounds reasonable” and that the company was open to listing in both the United States and Europe.
The company’s adjusted profit in the first half of 2024 reached $61.74 million (673 million Swedish crowns) amid cuts and the introduction of AI in customer service. Revenue for the period was $1.22 billion (SEK 13.3 billion), up 27% from the previous year. In the United States, the company’s revenue grew 38%.
In 2021, the startup Klarna received a valuation of $46 billion, becoming the most valuable startup in Europe. At that time it was not yet profitable and employed about 7 thousand people.
Bloomberg News reported earlier this year that Klarna was targeting an IPO valuation of around $20 billion and could choose Goldman Sachs as its flagship bank.
Klarna was founded in 2005 in Stockholm and, according to its website, offers direct payments, post-delivery options and installment payments to approximately 85 million active buyers and 575,000 merchants in 26 countries.
Author:
Elena Likhanova
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
