Swedish fintech company Klarna has filed registration documents with the U.S. Securities and Exchange Commission, signaling an upcoming IPO that has generated significant anticipation. While the exact share numbers and price range are yet to be disclosed, Klarna has been restructuring to prepare for listing, ultimately choosing the U.S. market over the U.K. Co-Founder and CEO Sebastian Siemiatkowski previously cited macroeconomic factors as key to the decision. The U.S. market, which represents about 29% of Klarna's revenue, aligns with its focus on American expansion, and the company’s investor base is heavily U.S.-based. The IPO will proceed after the SEC’s review, contingent on favorable market conditions.

Klarna’s choice to list in New York reflects a broader trend of tech companies favoring U.S. markets over London, especially as the Trump administration’s policies are expected to favor reduced regulation and tax cuts. Klarna’s U.S. presence is further supported by its rapid growth since 2020, with demand for buy-now-pay-later services surging. The company’s valuation, which peaked at $45.6 billion in 2021, has adjusted as markets shifted, dropping to $6.7 billion in a 2022 funding round. Klarna's evolution from a Swedish payment service to a global fintech powerhouse includes banking services, AI-driven personal finance tools, and an expanding set of digital financial offerings.