Sebastian Siemiatkowski, boss of pay now, pay later business Klarna, has said the firm is likely to choose the US over London for its stock market debut.
In an interview with The Sunday Times, Siemiatkowski said: “It’s more likely that Klarna will list in the US.
“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 news will come as a blow to the Treasury, which in April committed to moving forward with recommendations laid out by Lord Hill to encourage more fintechs to list in the UK.
Earlier this year the former EU commissioner published a set of recommendations that called for a range of deregulatory measures, using the use of duel class shares, which allow company founders to maintain some control over firms.