Swedish fintech giant Klarna has officially filed for a long-anticipated initial public offering (IPO) in the United States, marking a significant milestone in its journey. The company submitted a draft registration statement to the Securities and Exchange Commission (SEC) on Tuesday, although specifics regarding the number of shares to be offered and the pricing range remain undetermined. Klarna, known for its buy-now-pay-later services, has seen its market value decline sharply since the pandemic, primarily due to rising interest rates and a decrease in online shopping enthusiasm. Once valued at a staggering $45.6 billion in 2021, Klarna's worth plummeted to $6.7 billion by July 2022. Despite these challenges, the upcoming IPO could potentially value the company between $15 billion and $20 billion. As Klarna continues to innovate with new financial features, it aims to strengthen its position in the competitive fintech landscape.
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