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Sweden-based Klarna's IPO most likely to happen in US, CEO says


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Sweden-based Klarna's IPO most likely to happen in US, CEO says

Sweden-based Klarna Bank AB (publ) will likely conduct an IPO in the U.S. due to the country's "bigger understanding of technology companies" and because it might be its "biggest market in one or two years," Bloomberg News reported, citing an interview with the company's CEO, Sebastian Siemiatkowski.

Klarna is the most valuable European financial technology unicorn, valued at $5.5 billion after it completed its latest funding round in August.

Siemiatkowski told Bloomberg that Klarna was looking into potential acquisitions to help it grow and had completed one deal in the U.S. and was nearing another deal in Europe, without disclosing any names. He added that the fintech firm may look to raise more capital via private funding before looking to the public for funding.

According to the report, Siemiatkowski expects Klarna will end 2019 with a net loss due to the costs of its expansion into the U.S. He also said that an Asian expansion was not being considered for now because of "strong competition in that region."