Klarna files for IPO in US

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Klarna fired the starting gun on its long-anticipated stock market flotation after the Swedish buy now, pay later pioneer said it had filed initial public offering documents in the US.

The Swedish fintech said on Wednesday that it had “confidentially submitted” a draft registration statement to the US Securities and Exchange Commission.

The IPO would take place after the SEC review and the timing would be subject to market conditions, Klarna added. 

Klarna was last valued at $6.7bn in 2022 in a fundraising round that was deeply discounted amid rising interest rates. It had previously been priced at $46bn in a 2021 deal that made it Europe’s most valuable start-up group.