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Klarna, a buy now, pay later e-commerce fintech company, is expected to conduct an initial public offering.
There's no news yet about how much the stock will cost when it goes public. No date has been set for when the stock will be publicly available.
How to buy shares in Klarna when it goes public
Once Klarna goes public, you'll need a brokerage account to invest. Consider opening a brokerage account today so you're ready as soon as the stock hits the market.
- Compare share trading platforms. Find a platform that suits your investing style. In this case, you might need a brokerage providing access to newly listed stocks. Narrow down top brands with our comparison table.
- Open and fund your brokerage account. Create an account using basic personal details along with your ID and bank information. You can make a deposit with a bank transfer, credit card or debit card.
- Search for Klarna. Find the stock by name or the ticker symbol .
- Buy Klarna shares. Once shares become available on your platform, decide how much stock you want to buy and create an order.
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What we know about the Klarna IPO
The buy now, pay later (BNPL) e-commerce giant Klarna is expected to go public sometime in 2024. There’s no official date, but the CEO, Sebastian Siemiatkowski made a recent statement saying that it’s going to happen quite soon.
Klarna is a Swedish fintech company, but it’s expected the initial public offering will take place in the US, because that’s where a lot of its sales come from. And, the US is still the obvious choice for technology companies looking to raise as much money as possible.
Klarna’s main offering allows for customers to purchase products through major retailers, but with the ability to split or defer the payment. In the UK, you can use it to pay in 3 instalments or pay 30 days later.
The valuation for Klarna got slashed by around 85% to $6.7 billion in a 2022 funding round due to harsher market conditions. This is obviously much lower than a previous valuation of $46 billion.
There are over 150 million active consumers using Klarna’s service to buy from over 500,000 merchants - totalling more than 2 million transactions a day.
When will the Klarna IPO take place?
There’s no date set in stone for Klarna’s IPO, but the Swedish fintech confidentially filed paperwork with the Securities and Exchange Commission (SEC) to get the ball rolling with its long-awaited IPO.
Where will Klarna shares be listed?
Although Klarna is a Swedish company, it filed paperwork to list its shares in the US, most likely on the Nasdaq stock exchange.
There were hopes it might list shares in the UK, but it’s now been confirmed this won’t be happening.
What we know about Klarna’s finances in 2024
Officially known as Klarna Bank, this alternative to credit card issuers now has more than 575,000 merchant partners worldwide.
In the six months ending June 2024, Klarna reported net operating income growth of $1.6 billion, an 85% increase year-over-year. The first half of 2024 had some other highlights as well:
- 27% increase in revenue, while adjusted operating expenses remained flat
- 2.5 million transactions per day
- 85 million active customers worldwide
- 68,000 new retail partners including Uber, Airbnb, and Expedia.
- Adopting practical artificial intelligence (AI) tools to boost productivity and cut costs
Expert comment - What is Klarna’s current valuation?
It’s hard to pin an exact value. Recently, shareholder Chrysalis increased its stake which gave Klarna a rough valuation of around $14.6 billion. This is much lower than the $45.6 billion valuation it had in 2021, but higher than its last official valuation of $6.7 billion after a funding round in 2022.
We should know closer to the IPO what Klarna believes its fair valuation should be after it hashes things out with the investment banks underwriting the IPO. Apparently, it was in discussions with banks aiming for a $20 billion valuation, but that could be aiming too high considering Klarna hasn’t made an annual profit since 2018.
How do similar companies perform?
It's impossible to predict how any stock will perform — and IPOs can be particularly volatile. But evaluating the performance of companies like Klarna can be useful in determining how the market is performing and whether now is a good time to invest in this industry. Select a company to learn more about what it does and how its stock performs, including market capitalisation, the price-to-earnings (P/E) ratio, price/earnings-to-growth (PEG) ratio and dividend yield. While this list includes a selection of the most well-known and popular stocks, it doesn't include every stock available.
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Read the full methodologyAll investing should be regarded as longer term. The value of your investments can go up and down, and you may get back less than you invest. Past performance is no guarantee of future results. If you’re not sure which investments are right for you, please seek out a financial adviser. Capital at risk.
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