Klarna is kicking off its US IPO plans with a confidential filing with the SEC

Swedish buy now, pay later (BNPL) start-up. Klarna is on its method to becoming a public company. Fintech he said on Wednesday announced the confidential filing of a draft registration statement with the U.S. Securities and Exchange Commission (SEC).

The announcement of the stock exchange listing, long in the making, comes amid a dearth of initial public offerings (IPOs) in the technology sector. Klarna’s European status only adds to the excitement of today’s news.

Founded in 2005, Klarna is certainly one of several players on the market BNPL a space enabling customers to buy goods with a guarantee of an interest-free loan. After launching in the US in 2015, Klarna achieved a lofty valuation of over $45 billion by 2021, a figure that quickly declined by 85% to $6.5 billion attributable to “market corrections.”

However, Klarna’s valuation recently increased to $14.6 billionbased on reports, after one investor increased his stake.

We still don’t know the way many shares will likely be offered or what the IPO price range will likely be, but today’s announcement paves the way for Klarna to go public, likely in the first half of 2025.