Sequoia, Heartland (Bestseller Group) and Commonwealth Bank of Australia aim to exit
Sweden’s fintech Buy-Now-Pay-Later (BNPL) player Klarna filed with SEC an application for a listing on NYSE (press release) . Such an ipo will allow the company’s venture capital investors to exit from the scaleup.
Goldman Sachs, JP Morgan and Morgan Stanley act as joint book-running managers; BofA Securities, Citigroup, Deutsche Bank Securities, SocGen, and UBS Investment Bank as bookrunners. BNP Paribas, Keefe, Bruyette & Woods, A Stifel Company, Nordea Bank Abp, Rothschild & Co, Wedbush Securities, and Wolfe | Nomura Alliance will be the IPO co-manager.
Sebastian Siemiatkowski (ceo), Victor Jacobsson and Niklas Adalberth founded Klarna in 2005 and in 2024 it brokered a gross cargo volume of 105 billion US Dollars for a 2.81 billion euros turnover (2.28 billion in 2023) and net profits of 21 million (net loss of 244 million).
In 2022, Klarna secured a round of 800 million US Dollars on the ground of an enterprise value of 6.7 billion that attracted the resources of Sequoia, Bestseller Group, Silver Lake, Commonwealth Bank of Australia, Mubadala Investment Company, and Canada Pension Plan Investment Board (CPP Investments) (see here a previous post by BeBeez).
In June 2021 the company attracted 639 million on the ground of an enterprise value of 45.6 billion (see here a previous post by BeBeez).In January 2025, Klarna was worth 12 billion US Dollars, PitchBook data say while the SEC (page 106) file highlights a 13.6 billion at the end of 2024. Sequoia, Heartland (a vehicle of Bestseller Group), Jacobsson, and Commonwealth Bank of Australia are the main company’s current shareholders (page 260).
In the last 12 months, ten million consumers and more than 40000 merchants (+33%) in UK used Klarna. The company serves 93 million retail clients and 0.675 million merchants in 26 countries.
In October 2024, Klarna signed a long-term strategic partnership with Elliott Advisors for the assignment of all short-term, interest-free receivables in the UK that will enable to finance a volume of over 30 billion GBPs (press release).
