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As expected, Klarna is preparing to go on the New York Stock Exchange, with Bloomberg information a billion dollars and a valuation estimated at fifteen billion dollars. This introduction comes after a stabilization phase of the company, whose valuation had reached a summit of $ 45.6 billion in 2021 before collapsing at 6.7 billion in 2022, under the effect of the rise in interest rates and the hardening of the conditions of financing of the Fintechs. Since then, Klarna has gradually straightened her situation and had a valuation of 14.6 billion in 2023 during a secondary operation subscribed by Manhattan Ventures Partner.
Founded twenty years ago in Stockholm, Klarna has established itself as a central player in Buy Now, Pay Later, a model that particularly seduces new generations. Millennials and Gen Z favor paids split into traditional credit cards, attracted by the absence of interests and the ease of use. Klarna offers them experience with payments with one click and total transparency on costs, in a context where consumers want to continue to have fun while mastering their budget. With 85 million users and a network of 600,000 merchant partners, the company played a structuring role in the evolution of digital payments.
Since her last round, Klarna put herself in battle to prepare for the best are IPO. Recent financial results reflect a recovery dynamic. In the first half of 2024, Klarna gave an adjusted operational profit from 673 million Swedish crowns (SEK)or about 59.9 million euros (€)against a loss of 34 million a year earlier. Its turnover has established 13.27 billion Swedish crowns (SEK)or about 1.18 billion euros (€)up 27 % over a year. This return to profitability is explained by an increased discipline on costs and a rationalization of its operations, in particular by the sale of loan portfolios to the American hedge fund Elliott. The company is also engaged in an in -depth transformation of its technological infrastructure, after becoming aware of the ineffectiveness of its stack of SaaS solutions.
Until last year, Klarna used nearly 1,200 SaaS applications from several hundred suppliers, a tangle that strengthened its operational efficiency and complicated the integration of artificial intelligence. In a thread published in March 2025 on X, Sebastian Siemiatkowski revealed that the company had undertaken a radical household by removing certain flagship solutions such as Salesforce and Workday, replaced by an internal infrastructure built around the NEO4J graphic database. Only a few exceptions have been made, such as the adoption of Deel for the management of human resources and the maintenance of Slack, always linked to the Salesforce ecosystem.
This technological consolidation aims to delete data silos, improve process integration and reduce costs. And Klarna is not content to optimize its operation; It prepares its infrastructure for a future where artificial intelligence will play a central role in paying payments and personalization of credit offers. By focusing on a unified technological stack, it intends to maximize data exploitation and develop a proactive approach to risk management.
Klarna’s initiative illustrates the problem with many hypercroissance fintechs. Many of them rely on a multitude of SaaS solutions to accelerate their marketing, before finding themselves confronted with the limits of this fragmentation. Klarna has chosen to operate a strategic turn by internalizing its technological capacities, like Revolut, Nubank and Stripe, which from the start developed proprietary infrastructure.
The documentation of the IPO should be filed in the course of next week for an IPO in April, case to follow!
