It has been a long, messy and, at times, dramatic journey, but Klarna got there in the end. Last week, the Swedish fintech finally IPOed on the New York Stock Exchange. After its share price popped on the first day of trading, Klarna closed with a market cap of $17bn.

The lessons of Klarna’s IPO
European investors and pensioners continue to lose out from the success of its best startups
4 min read
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John Thornhill is Sifted’s editorial director and cofounder. He is also innovation editor of the Financial Times, and tweets from @johnthornhillft

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