Stockholm-based Klarna, an AI-powered global payments network and shopping assistant has confidentially filed paperwork with the U.S. Securities and Exchange Commission for an initial public offering.
However, the number of shares to be offered and the price range for the proposed offering have not yet been determined.
The initial public offering is expected to take place after the SEC completes its review process, subject to market and other conditions.
In August, Klarna CEO Sebastian Siemiatkowski hinted at a potential IPO next year, saying it “sounds reasonable,” but noted that no commitment has been made. He indicated a preference for a U.S. listing while exploring options in Europe, reports Reuters.Â
Klarna’s previous developments
The announcement comes a couple of weeks after shareholders of Klarna Group PLC passed the ordinary resolution to remove Mikael Walther from the Board of Directors.
Also, the Swedish company announced the launch of Klarna’s Gift Card Store in the UK, in partnership with Blackhawk Network (BHN), a leading global branded payments provider.
In July, the company announced the divestment of Klarna Checkout (KCO). However, it has been rebranded into Kustom post-acquisition by an investor consortium, led by serial entrepreneur Kamjar Hajabdolahi at 5.4 billion kronor ($520M).
Klarna: A global payments solution provider
Founded by Niklas Adalberth, Sebastian Siemiatkowski, and Victor Jacobsson in 2005, Klarna is an eCommerce payment solutions platform for merchants and shoppers.
Best known for its Buy Now Pay Later products, the company’s instant debit option, Pay Now, has been rolled out across all European markets and accounts for around a third of all transactions.
It means consumers now have the choice to pay in full immediately or pay over time – all without interest.
It is seamlessly integrated into the checkout process when customers select Klarna as their payment method at participating retailers.
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