Klarna aims to raise at least $1bn in an initial public offering expected to be filed publicly as soon as next week, reports say.
The Swedish fintech is said to be targeting a $15bn valuation when it lists on the New York Stock Exchange, sources familiar with the matter told Bloomberg.
Founded in 2005, Klarna has steadily expanded its offering beyond buy now, pay later (BNPL) to include a smart shopping assistant, a checkout solution and banking products, including a personal account for deposits and cashback rewards.
The strategy has seen Klarna amass more than 85m customers around the world, with more than half a million retail partners globally. In the process, the company has raised $4.2bn in funding from investors including Sequoia Capital, Atomico, Mubadala, SoftBank, Northzone and BlackRock.
Klarna first filed for an IPO with the US Securities and Exchange Commission in November but has yet to formally confirm when it will list.
Internal divisions among senior management, particularly between cofounders Sebastian Siemiatkowski and Victor Jacobsson, have plagued Klarna in recent years.
At the tail end of 2024, shareholders voted to oust director Mikael Walther from its board, seen as a key ally of Jacobsson.
Sifted recently broke down a list of the power players steering Klarna towards IPO.
Klarna declined to comment.
