Buy-Now-Pay-Later Firm Klarna Files for US IPO | Global News Avenue

Swedish fintech company Klarna says it has submit For a long-awaited Initial Public Offering (IPO) in the united states

Klarna said on Tuesday it had submitted a draft registration statement to the FDA “confidentially.” U.S. Securities and Exchange Commission (SEC)), noting that the number of shares it plans to issue and the price range of its initial public offering have yet to be determined.

The IPO is expected to proceed after the SEC reviews Klarna’s filings Buy Now Pay Later Expert explain.

Buy now, pay later allows consumers to spread their purchases over multiple installments, and has grown in popularity in recent years as rising interest rates have hurt consumers’ wallets. Founded in Sweden in 2005, Artificial Intelligence (AI) – Focused Klarna currently has approximately 85 million customers worldwide and has Recently being launched New savings and spending account features aim to challenge traditional banking.

Klarna last valued at $6.7B in 2022

Still, Klarna’s market value has fallen since the outbreak as interest rates rise and the online shopping boom wanes. The company said in July 2022 that it was valued at $6.7 billion after a funding round amid the stock market rout. That’s well below its peak valuation of $45.6 billion in 2021.

The IPO could value Klarna at between $15 billion and $20 billion financial times reported. The report says it has been costly for fintech companies to expand into the U.S. in recent years as it attempts to bear Competitors definitely hold (AFRM)—putting pressure on profits.