The company recently turned its first quarterly profit.
The US is the company's largest market in terms of revenue.
The Swedish-headquartered fintech Klarna is planning to go public in the United States, the company’s Chief Executive Officer, Sebastian Siemiatkowski, mentioned when talking to Bloomberg.
“It’s very likely that this is going to happen quite soon, but there are no official dates,” the CEO said in the video interview.
A Leader in BNPL Services
Klarna Bank AB offers buy-now-pay-later (BNPL) services to retail clients. It was once the most valued European fintech; however, its valuation was slashed significantly to $6.7 billion last year from about $45.6 billion. Currently, the company is valued at $7.85 billion following its first quarterly profits in December.
With BNPL, retail customers of any e-commerce platform can receive a short-term credit for their purchases. According to Global Data, the BNPL sector is growing exponentially at an annual compounded rate of 25.5 percent, and the market size is expected to reach $565.8 billion by 2026.
US Is the Ideal IPO Market
The speculations of Klarna going public in Sweden and the United Kingdom have been going around for a while. The murmurs increased when the company set up a new UK holding company, which was considered preparatory work for a potential initial public offering (IPO).
However, according to the latest statements of the CEO, he wants to list the company in the US, considering the country to be the firm’s largest market by revenue. He also sounded less bullish towards a European listing, pointing out that Sweden and the UK “are still very small compared to the US one.”
“In the US, there is a bigger understanding of fintech and tech companies among the investor base,” Siemiatkowski said, adding that he wants “to make sure that all investors in Klarna have a tremendous investment.”
Recently, Klarna extended the scope of its partnership with Adyen. Under the new terms, Adyen will serve as the acquiring bank for Klarna's various consumer payment offerings, starting in Europe, North America, and Asia in 2024. As the payment provider, Adyen will help simplify card payments for Klarna's 150 million consumers and 500,000 merchant partners globally.
The Swedish-headquartered fintech Klarna is planning to go public in the United States, the company’s Chief Executive Officer, Sebastian Siemiatkowski, mentioned when talking to Bloomberg.
“It’s very likely that this is going to happen quite soon, but there are no official dates,” the CEO said in the video interview.
A Leader in BNPL Services
Klarna Bank AB offers buy-now-pay-later (BNPL) services to retail clients. It was once the most valued European fintech; however, its valuation was slashed significantly to $6.7 billion last year from about $45.6 billion. Currently, the company is valued at $7.85 billion following its first quarterly profits in December.
With BNPL, retail customers of any e-commerce platform can receive a short-term credit for their purchases. According to Global Data, the BNPL sector is growing exponentially at an annual compounded rate of 25.5 percent, and the market size is expected to reach $565.8 billion by 2026.
US Is the Ideal IPO Market
The speculations of Klarna going public in Sweden and the United Kingdom have been going around for a while. The murmurs increased when the company set up a new UK holding company, which was considered preparatory work for a potential initial public offering (IPO).
However, according to the latest statements of the CEO, he wants to list the company in the US, considering the country to be the firm’s largest market by revenue. He also sounded less bullish towards a European listing, pointing out that Sweden and the UK “are still very small compared to the US one.”
“In the US, there is a bigger understanding of fintech and tech companies among the investor base,” Siemiatkowski said, adding that he wants “to make sure that all investors in Klarna have a tremendous investment.”
Recently, Klarna extended the scope of its partnership with Adyen. Under the new terms, Adyen will serve as the acquiring bank for Klarna's various consumer payment offerings, starting in Europe, North America, and Asia in 2024. As the payment provider, Adyen will help simplify card payments for Klarna's 150 million consumers and 500,000 merchant partners globally.
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
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1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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FMAS:24 | Sneak Peak
FMAS:24 | Sneak Peak
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa