"Two decades after its founding in Stockholm, the fintech finally rang the bell on the New York Stock Exchange this September under the ticker KLAR, pulling off the largest IPO of 2025 (as of today). Shares priced at $40 and quickly surged, pushing Klarna's valuation near $20 billion - a head-turning debut that restored some shine to one of fintech's most scrutinized names."
"However, its first month on the market has been a mix of optimism, scrutiny, and the realities of life as a listed fintech: steady user and revenue growth, exciting product launches, but also the weight of losses, competition, and investor pressure. We look at what Klarna is doing after going public. The deeper question now, in fact, isn't whether it belongs on Wall Street, but how it plans to thrive there."
Klarna completed a high-profile NYSE IPO at $40 per share, briefly valuing the company near $20 billion, marking the largest 2025 IPO so far. The debut combined strong market demand with renewed investor interest. The company is recording steady user and revenue growth and launching new products, but faces heavy losses, fierce competition, regulatory scrutiny, and pressure from public investors to show sustainable profitability. Management must balance growth, cost discipline, and risk management while communicating a clear path to profitability. The coming quarters will test whether the company can convert IPO momentum into consistent financial performance and market trust.
Read at Tearsheet
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