Klarna’s IPO pops, raising $1.4B, with Sequoia as the biggest winner

Klarna, the Swedish fintech company, has successfully launched its initial public offering (IPO), raising $1.4 billion. The company sold 34.3 million shares, with only 5 million being new shares issued by Klarna itself. The majority of the shares, 29.3 million, were sold by existing investors, including Sequoia Capital, which emerged as the biggest winner in the IPO. Klarna's IPO was highly anticipated, as the company has experienced rapid growth in recent years, becoming one of the leading buy-now-pay-later (BNPL) providers globally. The strong performance of the IPO reflects the continued investor interest in the fintech sector and the growth potential of Klarna's business model. The article highlights the significant role of existing investors, particularly Sequoia Capital, in the IPO, indicating the long-standing support and confidence they have had in Klarna's success. The IPO proceeds will provide Klarna with additional funds to further expand its operations and strengthen its position in the BNPL market.