Klarna CEO gave an interview to Quartz and commented on the upcoming IPO. The company is included in the Global Technologies Private Portfolio fund. The date of IPO is not clear yet, however, Sebastian Siemiatkowski mentioned that the public listing will be conducted on the US exchange.
The USA is now the main target market for Klarna: the platform’s audience in the States is growing rapidly (the company has already conquered the European market). Among other things, the demand for Klarna’s services last year was spurred by the pandemic and quarantines — more precisely, the trend for e-commerce.
Siemiatkowski stated, that Klarna focuses on working with the largest US retailers. In terms of the number of such partners, the company is ahead of its competitors Affirm (listed on Nasdaq in January this year) and Afterplay (traded on the Australian Stock Exchange since 2017) combined.
Klarna is the most expensive European startup in terms of capitalisation (a company originally from Sweden). In February, the company held a new round of funding for $1 billion, valued at $31 billion.
The current return for clients of the Global Technologies Private Portfolio who bought Klarna shares at the end of last year is 121.8%.