BTC Development Corp. completes $253 million IPO on NASDAQ
NEW YORK - Klarna Group plc shares began trading on the New York Stock Exchange on Wednesday after the company completed its initial public offering at $40 per share, exceeding the initially indicated range of $35-37.
The Swedish fintech company raised approximately $1.37 billion through the offering of about 34.3 million ordinary shares, valuing the company at approximately $15 billion, according to a press release from Chrysalis Investments Limited, an early investor in Klarna.
Chrysalis Investments, which holds 4.2 million shares in Klarna, first invested in the company in August 2019 at a valuation of $5.5 billion. The investment firm’s blended entry price across three investment rounds is approximately $25.6 per share, representing an unrealized return of approximately 1.6 times its investment at Klarna’s IPO valuation.
Chrysalis elected not to sell any shares during the IPO and is subject to a customary six-month lock-up period. As of June 30, 2025, Chrysalis valued its Klarna position at £136.9 million, representing 15.1% of its net asset value.
Klarna’s second quarter 2025 results showed year-on-year growth with Gross Merchandise Volume increasing by 19% and revenues rising by 20%. The company’s GMV growth accelerated from 15% in April to 24% by June, following strategic integrations with partners like Stripe.
The buy-now-pay-later company has focused on cost management over the past two years, with average revenue per employee increasing from $0.4 million in the second quarter of 2023 to $1.0 million in the same period of 2025. Adjusted operating expenses have fallen by 24% since the first quarter of 2022.
Klarna’s GMV has grown substantially since Chrysalis’s initial investment, rising from $35 billion in 2019 to over $102 billion in 2024, while the company has transitioned from a loss-making position to profitability during this period.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.