(Bloomberg) – Klarna Group PLC has submitted publicly for American and in what could be one of the biggest lists of financial companies.
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Digital payments in Stockholm have climbed to 24%last year. Klarna had a $ 21 million net revenue from $ 2.81 billion in revenue for 2024, compared to a $ 244 million from $ 2.28 billion a year earlier, according to the submission on Friday with the US value papers. Klarna filed confidentially for the initial public offer in November.
Klarna wants to raise at least one billion dollars in IPO -Ui aiming to estimate more than $ 15 billion in the list, Bloomberg News reported. The company and some of its shareholders sell shares on offer, shows submission of applications.
The list comes because Wall Street weighs the potential influence of recent swing markets on a group of large companies that want to list in the United States, including AI Cloud Computing Provider Coreweve Inc. and manufacturer of medical materials Medline Inc.
Under the guidance of the co -founder and executive director Sebastian Siemiatkowski, Klarna offers consumers so -called shopping now, paying later financing, a type of borrowing that has started at the beginning of the decade and further accelerated during Coronavirus Pandemia with an explosion of an Internet shopping.
Analysts attached a company estimate in October to about $ 14.6 billion in October. It is an improvement over the value of $ 6.7 billion, which he achieved in the private circle of financing 2022, but far from the value of $ 45.6 billion, which he had in 2021. At the height of Fintech Boom. The company privately raised $ 4.8 billion in capital, according to Pitchbook.
Klarna has 93 million active consumers and cooperates with more than 675,000 merchants, showing submission.
The year of diverting
Klarna spent most of last year diverting on the eve of the planned IPO – by establishing a new British Holding, rejecting the companies, focusing on the payment of partners and investing in artificial intelligence. In June, the company agreed that it would pay its departure business by around $ 520 million, abolishing Laybuy’s property in August August.
Klarna strengthened her relationships with technological racks, announcing in November that she would offer shopping, payment, customers on a salary used by Google Pay just one month after sealing the partnership with Apple Inc. The Swedish company also concluded contracts with Adyen NV, Xero Ltd and WorldPay Inc.
The company is in conversations with banks and payments on a partnership on new products and services, reports. Fintech noted that he had long relied on Visa Inc. and web site for your credit card and borrowing products.
“We are currently in advanced stages of establishing business relations with the partner of another bank in the United States, through which we expect to offer our FER Funding products on this market with another network of payment, where we plan to issue a Klarna card in the selected markets,” Klarna said in the submission. “We expect, as a result of these negotiations, we will conclude a binding agreement with an appropriate partner in the first quarter and the second half of 2025.”
Payment Unit to Payment JPMORGAN Chase & Co. She is in partnership with Klarna to expand the purchase now, pay later options for her merchants, the company announced in February. It will allow about 900,000 companies to offer Klarna’s fast loan capabilities to their customers.
The company also said in the application that it has a connection with Milkywire AB, an ecological platform founded by Siemiatkowski’s wife. Klarna paid Milkywire $ 2.6 million from 2022 for services.
The largest investors
The largest Klarna investors with 5% or more remaining shares include entities associated with Sequoia Capital, which have used 78.8 million shares on the eve of the offer, show the application. Heartland a/s, an investment agent for the family behind the clothing sellers, has 37.1 million shares, and the co -founder Victor Jacobsson has 31.4 million shares.
IPO application is followed by a period of restlessness in the company that has seen the battle in the board and, lately, the overthrow of the committee of the committee Mikael Walther, who has repeatedly clashed with President Michael Moritz.
In the submission, Klarna reported that she had discovered material weakness within her financial controls 2022 related to IT systems he uses to prepare financial statements. Although the company has developed a rehabilitation plan for the question, it has not yet been resolved since the end of last year, Klarna warned.
Separately, Klarna also told potential investors to face the investigation of a Swedish consumer agency related to companies with marketing laws in the country.
Before the iPo offer is over, Klarna plans to adopt a new policy that regulates the transactions of related parties, the company has vowed. The new rules will require that certain transactions of the verification and approve the Company’s Committee.
The offer of Goldman Sachs Group Inc., JPMORGAN and Morgan Stanley, and states 11 more companies working on the agreement, reports. Klarna plans to list on the New York Stock Exchange under the symbol of Klar.
-In help Katie Roof.
(Updates with details about the application of the tenth paragraph.)
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