Klarna considering a listing but not ‘right now’
Swedish fintech Klarna Bank, which offers ‘buy now and pay later’ loan plans to shoppers, may consider listing as early as 2022.
The firm does not have “immediate plans” for an IPO amid “very volatile” markets, chief executive and co-founder Sebastian Siemiatkowski told Bloomberg in Warsaw.
Klarna was valued at $45.6bn in its latest funding round, almost four times higher than last year.
“We want to challenge traditional banking incumbents, that would apply to everything we do and would include also a listing. It’s more plausible to think that an IPO can happen, but we don’t have any immediate plans and aren’t working on this right now,” Siemiatkowski said.
The Stockholm based firm has become popular among young shoppers, who can pay for products at shops including Asos and JD Sports in interest-free installments.
Wise’s recent direct listing in London could be a potential model for Klarna, the fintech’s co-founder said.
Klarna was likely to choose the US over London for its stock market debut, Siemiatkowski told The Sunday Times earlier this summer.
He said: “The majority of my investors would say that’s where you usually list… but are we going to consider London? And are there elements of how you guys are thinking about changing the rules that could make it more attractive? Absolutely.”
“The majority of my investors would say that’s where you usually list… but are we going to consider London? And are there elements of how you guys are thinking about changing the rules that could make it more attractive? Absolutely.”