Klarna, the Swedish payments company famous for its buy now, pay later model, has taken a significant step by confidentially filing IPO documents with the SEC. This move comes as analysts currently value the company at approximately $15 billion, a stark contrast to its peak valuation of $46 billion during the pandemic. Klarna's recent fundraising round in 2022 saw its valuation drop to $6.7 billion, reflecting the challenges faced in the fintech space. The company, backed by major investors like SoftBank and Sequoia Capital, has been considering an IPO for some time, with CEO Sebastian Siemiatkowski hinting at a potential listing in 2024. Klarna’s decision to pursue a U.S. listing highlights ongoing trends where European tech firms are increasingly looking to American markets for better visibility and valuation opportunities, posing a challenge to European stock exchanges striving to attract local tech companies.
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