Klarna Cashed In on ‘Buy Now, Pay Later.' Now It Wants to Be a Bank
So instead of taking victory laps and plotting what to do with his riches, Siemiatkowski, 43, has spent the summer on conference stages, podcasts and TV news shows skirting the IPO question. But now he's back, planning to complete the listing as soon as September, and he's got a new pitch: building a global digital bank. Over the past two decades, Klarna has evolved from a European clone of PayPal Holdings Inc. to the biggest provider of short-term 'buy now, pay later' consumer loans. It has more than 100 million active customers, mostly in the US and Europe, who use it to search for products, track deliveries, manage purchases and, in some places, maintain savings accounts.
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