Klarna to revive New York IPO attempt as soon as September
Swedish fintech Klarna is gearing up for a second swing at a public listing in New York after original plans were derailed by the market meltdown following President Donald Trump’s tariff onslaught.
The buy now, pay later (BNPL) giant is aiming to launch on the US stock market in September or October if market conditions permit.
The specific timing, whilst still under review, is expected to take place well before the end of the year.
A memo, seen by Sky News, showed finance boss Niclas Neglen telling investors the fintech’s “intention to list remains firm”.
“We’re closely monitoring market conditions and will move swiftly when the timing aligns,” Neglen added.
The impending US listing piles onto the London Stock Exchange’s delisting woes. Just this morning London-listed Just Group was snapped up by Canadian asset manager Brookfield Wealth Solutions teeing up another delisting.
The listing would follow US fintech Chime’s successful IPO in June, where shares jumped 59 per cent above its $27 offering price.
Klarna filed its IPO documentation with the US Securities and Exchange Commission in March and was preparing a flotation but suspended plans amid market volatility triggered by Trump’s ‘Liberation Day’ levies.
Klarna beyond BNPL
Klarna’s renewed US listing attempt follows the fintech receiving approval from the Financial Conduct Authority to be authorised as an Electronic Money Institution (EMI).
The fresh licence allows the firm to offer its 11m UK customers savings accounts and also pave the way for a debit card launch.
The firm has made efforts to diversify away from its flagship buy now, pay later offering in the last year.
It recorded a net loss of $99m for the first quarter of 2025 after a surge in failed loan repayments.
Consumer credit losses topped $136m – marking a 17 per cent rise. The proportion of loans not paid back – its credit loss rate – edged up to 0.54 per cent from 0.51 per cent.
The fintech launched “Klarna Plus” subscription services in a bid to ramp up competition with the expanding BNPL market and most recently announced physical cards – something rival Zilch has also introduced.