Klarna Group Plc has confidentially submitted an F-1 filing with the U.S. Securities and Exchange Commission (SEC) for a public offering of its ordinary shares, but the buy now, pay later (BNPL) firm provided no details about the number of shares to be offered, their price or when the IPO would take place.
“The initial public offering is expected to take place after the SEC completes its review process, subject to market and other conditions,” according to a Klarna statement.
Sweden-based Klarna’s decision to file its IPO in the U.S. aligns with the company’s focus on expansion in this country, which is already its largest single market, representing 29% of group revenue, according to the Wall Street Journal. The company was recently valued by analysts in the $15 billion range.
For the past several years, Klarna has been expanding beyond its BNPL roots, for example by rolling out a suite of social media-style offerings including personalized shopping feeds and smart shopping features in April 2023. In February 2024 Klarna expanded its “Sign in with Klarna” feature to 23 countries, including the U.S. and the UK, which enables consumers to choose which data they want to share with individual merchants, such as purchase histories that would enable more personalized product recommendations.
Advertisement
