The news: Klarna might push its IPO date up as late as September, per a report from Bloomberg.

The runway to IPO: Klarna filed for IPO back in March for an April 7 debut date, only to cancel its launch plans after President Donald Trump’s Liberation Day tariffs sent a shudder through stock markets.

Opportunity in the chaos: While tariffs spell trouble for consumers, buy now, pay later (BNPL) providers like Klarna have the opportunity to frame their offerings as affordable financing for everything from necessities to splurges.

Thirteen percent of US consumers said turning to BNPL platforms was how tariffs would most affect their spending, per January survey from First Insight.

Consumer health metrics: The BNPL provider’s delinquency rate fell from 1.08% a year ago to 0.88% in Q2. This should spark investor confidence in the company, demonstrating that its financing model works and is profitable (though investors should take note that Klarna calculates its delinquency rate differently from credit card issuers).

Our take: Whenever Klarna schedules its IPO, it can bank on the strength of its partnerships—like DoorDash, Walmart, Stripe, and Walmart—to sustain its growth. 

Fintechs have faced a tough environment for IPOs ever since the high-water mark of 2021. Firms are now required to demonstrate better pathways to profitability before going public. 

However, despite tariffs and geopolitical disturbances, fintechs have the ability to outperform expectations: Take Circle’s blockbuster IPO back in June. With investors hungry for AI-focused companies, Klarna may be well positioned to ride the wave of its peers’ earlier success in the market.

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