For the second IPO attempt: Klarna positions itself as a neobank
After a failed IPO, Klarna is planning a fresh start – with a focus on neobank, debit cards and mobile communications for sustainable growth.
Klarna had to put its first IPO attempt on hold in April 2025 due to the turmoil of the US trade war. But the Swedish fintech isn't giving up: A second attempt is planned .
To be better positioned for this, Klarna plans to present itself as a digital bank in the future, rather than simply as a provider of "Buy Now, Pay Later" (BNPL) installment payments. According to the Financial Times, this reorientation is intended to broaden and make the business model more stable—after all, investors today are primarily focusing on companies that operate profitably in the long term.
Read also
BNPL alone is considered risky, as default rates can rise quickly during periods of low consumption.
Klarna is already driving its transformation forward: In June, the company launched a debit card in the US together with Visa that allows customers to pay for purchases immediately.
Klarna also plans to soon offer its own mobile plan in the US – for around €35 ($40) a month, including unlimited data. Germany and the UK will follow later.
As part of its reorientation, Klarna now primarily describes itself as a neobank – and no longer just as an AI-supported payment network and shopping assistant.
According to the Financial Times, the successful IPO of US fintech Chime in June gave Klarna a new boost after its own IPO attempt had previously failed. Overall, investor confidence in digital banks is growing again, not least because Revolut and Monzo have recently significantly increased their valuations.
Read also
Nevertheless, protectionist tariff measures continue to weigh on Klarna's business. The Swedish company relies heavily on fast-fashion retailers such as Temu and Shein, which could suffer from US import tariffs in the future.
However, Klarna works with more than 700,000 merchants – including major players such as Airbnb, Uber, Sephora and Walmart – which mitigates the risk somewhat, reports the FT.
businessinsider
