Klarna Shares Surge 30% in $19.65B NYSE Debut

Klarna, the Swedish fintech company known for its buy-now-pay-later services, made a strong debut on the New York Stock Exchange, with its shares opening around $40 and rising as high as $57.20 intraday, closing near $51, valuing the company at approximately $17 billion. The initial public offering raised $1.37 billion through 34.3 million shares, marking a significant milestone for the company that operates in 26 countries and partners with major brands like Walmart and Nike. Klarna’s IPO is viewed as a positive sign for public markets and investor appetite for new listings, following a period of market volatility and a lull in IPO activity. The company reported growing revenues, reaching $2.8 billion in 2024, and has a large user base with 111 million active users and nearly 790,000 merchants. Klarna’s CEO highlighted the IPO as a statement of global ambition, and the company is expanding its offerings, including launching a new Klarna Card in the US with plans for a European rollout. Overall, Klarna's successful market debut underscores the resilience and growth potential of fintech firms amid evolving consumer payment trends.