Klarna, a Swedish BNPL provider, plans to incorporate a new holding company in the UK, preluding to its anticipated listing during the first half of 2024, with an expected IPO valuation of USD 15 million–20 million.

The company stated the reason for incorporating its new holding company in the UK is for its prominence from a legal, regulatory, and capital markets perspective. However, the company did not confirm it will list in the UK despite incorporating its new holding company in the UK.

According to Sebastian Siemiatkowski (co-founder and CEO), the company has achieved all three conditions as stated in August prior to proceeding with its anticipated IPO, i.e., becoming established in the US, operating a sustainable business model, and demonstrating growth potential.

Analyst QuickTake: Today’s news comes over a year from being valued at USD 6.7 billion after the company’s USD 800 million funding round in July 2022, taking a steep discount from its valuation of USD 45.6 billion , when it raised USD 689 million in June 2021.