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Klarna's US IPO raises $1.37 billion, boosts valuation to $15.1B
Klarna just pulled off a major US IPO, raising $1.37 billion by selling 34.3 million shares at $40 each—well above what was expected.
The buzz was real: investor demand was so high that the offering was oversubscribed 20 times.
Klarna is moving beyond 'buy now, pay later'
With its valuation now at around $15.1 billion (a big jump from its 2022 low of $6.7 billion, but still below the $45.6 billion peak in 2021), Klarna is shaking things up under CEO Sebastian Siemiatkowski.
The company is moving beyond "buy now, pay later," aiming to become a global digital bank with debit cards and more financial services—even as it faces some losses from expanding fast in the changing fintech world.