Shares in Klarna Group PLC closed up 14.6% in regular trading today after the Swedish fintech company made its debut on the New York Stock Exchange.
In its initial public offering, Klarna offered around 34.3 million shares at $40 each, raising about $1.4 billion. The shares opened at $52 each before surging to a high of $57, closing the day at $45.82.
Founded in 2005, Klarna offers a “buy now, pay later” service that allows consumers to make online purchases and pay for them in installments, often with no interest over a short period, such as with its “Pay in 4” model. Klarna acts as an intermediary, paying the merchant upfront and then managing consumer payments, effectively removing risk for both parties and simplifying the checkout process.
In addition to BNPL offerings, Klarna provides a suite of payment processing services for e-commerce merchants, handling customer payments, managing store claims and disputes….
