Swedish BNPL company Klarna is reportedly seeking financial advisors for a potential US initial public offering (IPO) that may occur in the first half of next year, as reported by the Financial Times.
According to sources cited by the FT, major Wall Street firms such as Goldman Sachs, JP Morgan Chase, and Morgan Stanley are vying to advise on the listing. Klarna, once valued at $46 billion in 2021, saw its valuation drop to $6.7 billion during a funding round in 2022 due to a broader tech market slump.
Despite these challenges, the company reported positive financial results in February, indicating a significant reduction in losses, with the US identified as its largest revenue market. CEO Sebastian Siemiatkowski previously suggested that a stock market listing in the US is “very likely” to happen “quite soon.” Bloomberg has also indicated that Klarna is moving forward with plans for an IPO at an estimated valuation of $20 billion.