Key Takeaways
- Klarna has delayed its highly anticipated IPO in the U.S.
- The decision was driven by economic uncertainty and sweeping new tariffs.
- Klarna reported $2.81 billion in 2024 revenue and turned a profit.
- The buy-now, pay-later (BNPL) market is projected to surpass $160 billion by 2032.
Klarna’s IPO Was Set to Shake Up Fintech
Swedish fintech company Klarna, best known for pioneering the buy-now, pay-later (BNPL) model, has hit pause on its plans to go public on the New York Stock Exchange. The IPO, initially filed in March 2025, was expected to raise over $1 billion and give Klarna a valuation north of $15 billion. However, geopolitical tensions and economic instability have led to a strategic delay.
Why Klarna Delayed Its IPO
Klarna’s decision comes in response to new tariffs introduced by the Trump administration. These tariffs—ranging from 10% to 50% on goods from nearly 90 countries—have caused uncertainty in the U.S. market. The company cited market volatility as the main reason for postponing its IPO.
Klarna joins other firms like StubHub and Chime, which have also delayed their IPOs under similar conditions (WSJ).
Klarna’s 2024 Performance
- Revenue: $2.81 billion (up 24% from $2.28B in 2023)
- Net Income: $21 million profit (vs. $244 million loss in 2023)
- User Base: 93 million active users
- Merchants: 675,000+ global partners
This turnaround bolstered investor confidence and positioned the company as a major player in the upcoming wave of fintech IPOs.
Klarna and the Future of BNPL
The BNPL industry is booming and expected to exceed $160 billion globally by 2032. Klarna’s delay is not a retreat but a recalibration. The company remains one of the dominant forces in this fast-growing sector, operating in 26 countries.
While Klarna isn’t hitting the brakes on growth, it’s waiting for calmer market conditions to ensure a successful IPO launch—one that reflects its long-term value and trajectory.
What This Means for Investors and the Fintech Industry
Klarna’s IPO was seen as a bellwether for the broader fintech market. Its delay signals caution, not weakness. Investors can expect other IPO hopefuls to follow suit, reassessing timing amid global economic shifts.
Still, Klarna’s fundamentals remain strong. When the market stabilizes, Klarna will likely refile—and potentially emerge even stronger, with improved financials and broader investor interest.
