Payments specialist Klarna, after two decades in business, has filed to go public on the New York Stock Exchange.
Its public listing will be closely watched as VC-backed companies attempt to reopen the IPO window this year. The Swedish buy now, pay later giant has also stabilized following an 85% valuation haircut in 2022, a rocky period for the sector.
Klarna booked $2.81 billion in revenue in 2024, up 24% from nearly $2.3 billion year-over-year. It posted a net profit of $21 million over that same period, a dramatic improvement from its $244 million net loss in 2023.
The company says it has 93 million active consumers, and works with 675,000 merchants in 26 countries.
Klarna’s most recent valuation was $12 billion in January 2025, according to PitchBook data drawing from a small late-stage VC funding round. Its private valuation peaked at $45.6 billion in 2021. But soon after, rapidly rising interest rates crushed the fundraising prospects and valuation of lending startups, including Klarna.
There were 65 venture-backed exits globally in Q4, with a cumulative deal value of $7.4 billion, according to PitchBook data. As rates decline, analysts are eyeing other well-capitalized fintech IPO candidates that could pursue listings, including Chime and Plaid.
Klarna’s largest investors include Sequoia entities and Dutch holding company Heartland A/S, as well as the Commonwealth Bank of Australia and Klarna co-founder Victor Jacobsson, according to the filing.
Featured image by NurPhoto via Getty Images
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