The news: Klarna is seeking a valuation of up to $14 billion in its coming IPO, per filings with the Securities and Exchange Commission. The BNPL provider will list on the New York Stock Exchange under the ticker symbol KLAR. The stock price at IPO is anticipated to be between $35 and $37 per share. 

Klarna also launched its debit card across Europe. 

How we got here: Klarna halted its IPO in April after President Donald Trump’s tariff announcements. It’s been waiting for the right moment to IPO after assessing macroeconomic changes in the global market.

What’s changed? Circle’s dizzying IPO in June proved to fintechs that the market is hungry for fintechs going public. 

Klarna has also notched new major partnerships with Walmart Canada and Bolt since June, which strengthens its outlook for investors.

Debit card: The Klarna Card’s European debut  follows a June trial run in the US. 

BNPL cards—spearheaded by the Affirm Card—have been strong growth drivers in the US, giving Affirm a stateside volume advantage. 

Introducing the Klarna card to European users could cement Klarna’s dominance on the continent as it looks to capture more spend in-store where consumers are shopping the most.

Our take: Klarna is hoping its IPO can capture investors’ hunger for high-growth tech stocks after a period of uncertainty. Fueled by its partnerships and card launches, Klarna is setting itself up to challenge Affirm on US BNPL spend.

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