Latest news with #KlarnaGroup
Bloomberg
5 days ago
- Business
- Bloomberg
Klarna's Quarterly Net Loss Widens After 64% Surge in Provisions
Klarna Group Plc had to set aside more money for potentially souring loans in the second quarter, a move that put pressure on profits ahead of its expected public debut. The company said provisions rose 64% to $174 million in the three months ending in June, according to a statement. At the same time, credit losses in the period remained low, representing less than 1% of gross merchandise volume.
Bloomberg
11-08-2025
- Business
- Bloomberg
Klarna Cashed In on ‘Buy Now, Pay Later.' Now It Wants to Be a Bank
This was supposed to be the summer Sebastian Siemiatkowski hit the jackpot. The founder of Klarna Group Plc, a 20-year-old financial-technology company from Sweden, had planned an initial public offering on the New York Stock Exchange in the spring. Seeking to raise at least $1 billion, the listing would have cemented Siemiatkowski's status as a billionaire, at least on paper. But as the clock ticked down to the debut, President Donald Trump announced his plans for stiff tariffs, sending global markets into a tailspin. Two days later, Siemiatkowski put his plans on hold. 'The IPO is obviously an important event for our shareholders,' he says. 'But to me it's just one milestone.' 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.
Bloomberg
31-07-2025
- Business
- Bloomberg
Klarna Is Said to Weigh US IPO Revival as Soon as September
Klarna Group Plc is considering reviving its potential New York initial public offering as soon as September, people familiar with the matter said, following a recent surge in fintech stock prices and strong debuts of recent US listings. The digital payment company is gearing up its preparations for the first-time share sale, said the people, who asked not to be identified as the information is private. Deliberations are ongoing and there's no final decision on the details including timing, the people said.
