TLDR
- Klarna (KLAR) debuted on NYSE with shares surging 33% from $40 IPO price to close at $45.82
- The Swedish fintech raised $1.37 billion through its IPO, valuing the company at $17.5 billion
- Revenue grew to $1.52 billion in first half of 2025, but net losses widened to $153 million from $38 million year-over-year
- Company has 111 million active users and processed $112 billion in gross merchandise value over 12 months
- Klarna is expanding beyond buy-now-pay-later into banking services with debit cards and deposit accounts
Klarna Group Plc made its highly anticipated debut on the New York Stock Exchange Wednesday. The Swedish fintech company’s shares opened at $52 before settling at $45.82, marking a 33% jump from its $40 IPO price.
The offering raised $1.37 billion for the company and existing shareholders. This was achieved through the sale of 34.3 million shares.
The IPO was priced above the initial expected range of $35-$37 per share. This pricing reflected strong institutional demand for the buy-now-pay-later leader.
The successful debut valued Klarna at $17.5 billion. This represents a recovery from its $6.7 billion private valuation in 2022.
Retail sentiment on Stocktwits reached “extremely bullish” territory following the listing. Shares traded under the ticker symbol “KLAR” throughout the day.
The IPO had been delayed from April due to market volatility. Concerns over tariff policies had created uncertainty in the fintech sector.
Financial Performance Shows Growth With Losses
Klarna’s revenue grew to $1.52 billion for the first six months of 2025. This compared to $1.33 billion in the same period last year.
However, net losses widened to $153 million from $38 million year-over-year. The company attributed some losses to expansion investments.
The platform processed $112 billion in gross merchandise value over the past 12 months. This metric demonstrates the scale of transactions flowing through Klarna’s system.
The company serves 111 million active users globally. It also works with 790,000 merchant partners across its network.
In the US market specifically, Klarna reported 33% quarterly revenue growth. This shows strong momentum in its key expansion market.
CEO Sebastian Siemiatkowski reflected on the milestone. “This moment feels surreal. When we started Klarna back in 2005, it was just a wild idea,” he said.
Banking Expansion Drives Future Growth
Klarna is expanding beyond its core buy-now-pay-later services. The company launched debit cards and deposit accounts in the US market.
Already 700,000 Americans have signed up for these banking products. An additional 5 million customers remain on the waiting list.
This banking push represents a shift toward diversified revenue streams. Traditional BNPL services face increasing competition and regulatory scrutiny.
Siemiatkowski noted consumer demand for banking alternatives. “I think that there is this demand and people want something else from their bank,” he stated.
The company is also expanding its “fair financing” program. This offers larger-ticket loans over longer periods to customers.
However, Klarna warned this program could impact near-term performance. The company expects some initial headwinds as it scales these services.
