Klarna, Europe's $6.7 billion buy now, pay later firm, sets wheels in motion for eventual IPO
Publishing timestamp: 2023-11-06 12:43:01
Summary
The buy now, pay later firm Klarna has established a holding company in the UK as part of its legal entity restructuring. While Klarna has no immediate plans to go public, this move paves the way for a potential IPO in the future. The restructuring does not affect Klarna's Swedish operations and the company will continue to be regulated under the Swedish Financial Services Authority. Klarna, valued at $6.7 billion, has raised over $4 billion in funding and is a major player in the European payments industry. The UK had planned to introduce stricter regulations on the buy now, pay later industry, but may reconsider after concerns were raised by industry players. Klarna has been focusing on profitability and recently launched an AI image recognition tool.
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Keywords: softbank group corp, business news, technology, markets, breaking news: markets, breaking news: technology, amazon.com inc, banks, block inc, paypal holdings inc, sweden,
Source: https://www.cnbc.com/2023/11/06/klarna-sets-up-uk-holding-company-in-move-toward-ipo.html