After two decades of growth, Swedish fintech giant Klarna has finally made its debut on the New York Stock Exchange (NYSE). On Wednesday, the company raised $1.4 billion in its initial public offering, securing a $15 billion valuation.
Klarna priced its shares at $40 each, above the expected $35–$37 range. Shares opened strong at $52, before settling around $46 by mid-day trading.
Of the 34.3 million shares sold, only 5 million came directly from Klarna. The majority were sold by existing investors, including Sequoia Capital, Silver Lake, BlackRock, and Danish billionaire Anders Holch Povlsen’s entities. Despite cashing out some shares, these investors are holding on to most of their stakes.
CEO and co-founder Sebastian Siemiatkowski kept his entire stake, now worth over $1 billion, giving him control of about 7.5% of Klarna. Co-founder Victor Jacobsson, who left the company in 2012, sold 1.1 million shares but still owns more than 8%, while co-founder Niklas Adalberth retains nearly 3 million shares.
Sequoia Capital remains Klarna’s largest shareholder with nearly 23% ownership. VC legend Michael Moritz, who first backed Klarna in 2010, continues to play a key role, serving as chairperson even after leaving Sequoia in 2023.
“This moment feels surreal,” Siemiatkowski said in a statement. “Going public in New York is not just a milestone; it’s proof that a bunch of stubborn dreamers from Stockholm can take on the world, and win.”
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While Klarna’s $1.4 billion raise is impressive, it falls just short of the largest IPO of 2025, still held by CoreWeave, which brought in $1.5 billion in June.
