Klarna is now a public company. After years of IPO speculation, valuation swings, and regulatory uncertainty, the Swedish “Buy Now Pay Later” pioneer listed on the New York Stock Exchange in September 2025 under ticker KLAR.
The short answer: You can buy Klarna stock through any brokerage account that offers NYSE-listed securities. Open a brokerage account (if you don’t have one), search for ticker KLAR, and place your order. No accredited investor status required. No secondary market platforms. Just a regular stock purchase.
This guide covers how to buy shares, what the IPO revealed about Klarna’s business, and whether the stock is worth owning now that it trades publicly.
Quick Summary
| Attribute | Details |
|---|---|
| Company | Klarna Group plc |
| Ticker | KLAR |
| Exchange | New York Stock Exchange (NYSE) |
| IPO Date | September 2025 |
| IPO Price | $40 per share |
| IPO Valuation | ~$15 billion |
| First Day Close | ~$17 billion market cap |
| Capital Raised | $1.37 billion |
How to Buy Klarna Stock
Buying Klarna stock is now as simple as buying any other publicly traded company:
Step 1: Open a Brokerage Account
If you don’t already have one, open an account with a brokerage that offers NYSE access:
- Fidelity — No commissions, strong research tools
- Charles Schwab — Full-service broker, no commissions
- Robinhood — Commission-free, mobile-first
- E*TRADE — Good for beginners and active traders
- Interactive Brokers — Best for international investors
Most brokerages offer commission-free stock trading. Account opening typically takes 10-15 minutes online.
Step 2: Fund Your Account
Transfer money from your bank account. Most brokerages offer:
- ACH transfer (free, 1-3 business days)
- Wire transfer (faster, may have fees)
- Some allow instant buying while transfer settles
Step 3: Search for Klarna
Search for ticker KLAR in your brokerage platform. Verify you’re looking at:
- Klarna Group plc
- NYSE: KLAR
- Not a similarly named company or ETF
Step 4: Place Your Order
Choose your order type:
- Market Order: Buy immediately at current price
- Limit Order: Set maximum price you’re willing to pay
Enter the number of shares or dollar amount you want to invest.
Step 5: Confirm and Monitor
Review your order, confirm the purchase, and monitor your position. Klarna stock will appear in your portfolio like any other holding.
What Is Klarna?
Klarna is a Swedish fintech company that pioneered the “Buy Now Pay Later” (BNPL) model. Founded in 2005 by Sebastian Siemiatkowski, Niklas Adalberth, and Victor Jacobsson, Klarna lets consumers split purchases into interest-free installments.
How it works: At checkout, consumers can choose to:
- Pay in 4: Split purchase into four interest-free payments over six weeks
- Pay Later: Defer full payment for 30 days
- Pay Now: Immediate payment with Klarna’s checkout
Klarna pays merchants upfront and assumes credit risk. Merchants pay Klarna a fee (typically 3-6%), and consumers pay nothing if they make payments on time.
Scale:
- 93 million users in 26 countries
- 500,000+ merchant partners
- $2.81 billion revenue (2024)
- First profitable year in 2024 ($21 million net income)
The Klarna IPO: What Happened
Klarna’s path to public markets was anything but smooth.
The Valuation Rollercoaster
| Date | Event | Valuation |
|---|---|---|
| June 2021 | Peak private valuation | $45.6 billion |
| July 2022 | Down round | $6.7 billion (-85%) |
| 2023 | Recovery begins | ~$10 billion |
| Feb 2025 | Pre-IPO estimate | ~$15 billion |
| April 2025 | IPO delayed (tariff concerns) | — |
| Sept 2025 | IPO completed | ~$15 billion |
The 85% valuation collapse in 2022 was brutal. Investors who bought at the $46 billion peak waited years to see any liquidity—and even at the IPO, they’re still underwater.
The IPO Details
Klarna filed its S-1 in March 2025, planning an April IPO. Then President Trump’s tariff policies rattled global markets, and Klarna paused the offering.
The company relaunched in September 2025:
- IPO Price: $40 per share
- Shares Offered: 34.25 million
- Capital Raised: $1.37 billion
- First Day Performance: Stock rose, closing with market cap over $17 billion
The IPO was one of the largest fintech offerings of 2025, though well below the company’s 2021 peak valuation.
Klarna’s Business: What the S-1 Revealed
Going public forced Klarna to disclose detailed financials. Here’s what investors learned:
Revenue Growth
| Year | Revenue | Growth |
|---|---|---|
| 2022 | $1.9B | — |
| 2023 | $2.5B | +32% |
| 2024 | $2.81B | +12% |
Revenue growth has decelerated from pandemic-era highs but remains solid for a company of Klarna’s scale.
Path to Profitability
Klarna achieved its first profitable year in 2024:
- Operating Income: -$121 million (still negative)
- Net Income: $21 million (first positive year)
The company cut costs aggressively, including laying off 10% of staff in 2022 and famously replacing 700 employees with AI in 2024. CEO Sebastian Siemiatkowski later admitted the AI-first approach led to “lower quality” and the company resumed human hiring.
Key Metrics
- Gross Merchandise Volume: ~$100 billion annually
- Credit Losses: Tightly managed; BNPL default rates lower than credit cards
- Geographic Mix: Strong in Europe, growing in US
- Subscription Revenue: Klarna Plus ($7.99/month) adds recurring revenue
Should You Buy Klarna Stock?
Now that Klarna trades publicly, the question shifts from “can you buy” to “should you buy.”
Bull Case
Market Leadership: Klarna pioneered BNPL and remains the global leader. First-mover advantage in payments is durable—consumers and merchants build habits around specific checkout options.
Profitability Achieved: Unlike many fintech IPOs, Klarna went public with a profitable year behind it. The cost-cutting worked.
Banking License: Klarna holds a European banking license, enabling deposit-taking and traditional banking products. This diversifies revenue beyond BNPL.
AI Integration: Despite the hiring reversal, Klarna has genuinely integrated AI into customer service and operations, potentially improving margins long-term.
Bear Case
Valuation History: Anyone who bought Klarna at $46 billion in 2021 is still underwater at current prices. Private market valuations can be wildly disconnected from reality.
Competition Intensified: Apple Pay Later launched. PayPal has Pay in 4. Banks offer installment products. The BNPL moat is narrower than it was.
Regulatory Scrutiny: The CFPB has signaled BNPL will be regulated like credit cards—mandatory credit reporting, standardized disclosures, dispute resolution. Compliance costs will rise.
Growth Deceleration: Revenue growth slowed from 32% to 12%. At a premium valuation, slowing growth is a problem.
Valuation Comparison
| Company | Market Cap | Revenue | P/S Ratio |
|---|---|---|---|
| Klarna (KLAR) | ~$17B | $2.8B | ~6x |
| Affirm (AFRM) | ~$15B | $2.3B | ~6.5x |
| Block (SQ) | ~$50B | $22B | ~2.3x |
| PayPal (PYPL) | ~$85B | $31B | ~2.7x |
Klarna trades at a premium to diversified payments companies (Block, PayPal) but roughly in line with pure-play BNPL competitor Affirm.
Alternatives to Klarna Stock
If you’re interested in BNPL or fintech but want to compare options:
Direct BNPL Competitor
Affirm Holdings (AFRM)
- US-based BNPL leader
- Founded by PayPal co-founder Max Levchin
- Similar business model to Klarna
- Trades at comparable valuation
Diversified Fintech
Block, Inc. (SQ)
- Owns Afterpay (Klarna’s Australian competitor)
- Cash App provides consumer fintech exposure
- More diversified revenue streams
- Lower valuation multiple
PayPal Holdings (PYPL)
- Pay in 4 competes directly with Klarna
- Massive distribution (400M+ accounts)
- Established profitability
- Trading at historical low multiples
Fintech ETFs
ARK Fintech Innovation ETF (ARKF)
- May add Klarna now that it’s public
- Actively managed fintech exposure
- Higher volatility
Global X FinTech ETF (FINX)
- Passive fintech sector exposure
- Diversified holdings
- Lower expense ratio
Risks of Owning Klarna Stock
Public market investing is different from pre-IPO speculation, but risks remain:
Regulatory Risk
The CFPB has made clear that BNPL will face credit card-style regulation:
- Mandatory credit reporting: BNPL usage will appear on credit reports
- Standardized disclosures: Fee and interest transparency requirements
- Dispute resolution: Consumer protection mechanisms
These regulations could reduce BNPL adoption and increase compliance costs.
Competitive Risk
BNPL barriers to entry are low. Every major payments company now offers installment products:
- Apple Pay Later
- PayPal Pay in 4
- Chase My Chase Plan
- Citi Flex Pay
Klarna’s advantage is brand and merchant relationships—but those can erode.
Credit Risk
Klarna is fundamentally a consumer lender. In a recession:
- Default rates rise
- Credit losses increase
- Growth slows as consumers pull back
The company has managed credit well historically, but economic downturns test every lender.
Post-IPO Volatility
IPO stocks are notoriously volatile in their first year:
- Lock-up expirations release insider shares
- Analyst coverage ramps up with varied opinions
- Retail enthusiasm can create price swings
Expect volatility as the market finds Klarna’s “right” price.
The Bottom Line
Klarna is now a public company. You can buy shares through any brokerage account by searching for ticker KLAR on the NYSE.
The company went public at a fraction of its 2021 peak valuation, achieved profitability, and remains the global BNPL leader. But competition has intensified, regulation is coming, and growth has slowed.
For investors who wanted Klarna exposure: You now have it. No accredited investor status required, no secondary market complexity, full liquidity.
For those still evaluating: Compare Klarna to Affirm (pure BNPL), Block (diversified with Afterpay), and PayPal (established player with Pay in 4). The BNPL thesis is no longer a private market bet—you can now evaluate it with public market data and liquidity.
FAQ
How do I buy Klarna stock?
Open a brokerage account (Fidelity, Schwab, Robinhood, etc.), search for ticker KLAR, and place an order. Klarna trades on the NYSE like any other public stock. No special requirements or accreditation needed.
What is Klarna’s stock ticker?
Klarna trades under ticker KLAR on the New York Stock Exchange (NYSE).
When did Klarna go public?
Klarna completed its IPO in September 2025 after delaying from an original April 2025 target due to market volatility from tariff concerns.
What was Klarna’s IPO price?
Klarna priced its IPO at $40 per share, raising $1.37 billion. The company’s market capitalization at IPO was approximately $15 billion.
Is Klarna profitable?
Yes. Klarna reported its first profitable year in 2024 with $21 million in net income on $2.81 billion in revenue. The company achieved profitability through aggressive cost-cutting, including workforce reductions and AI integration.
How does Klarna compare to Affirm?
Both are pure-play BNPL companies trading at similar valuations (~6x revenue). Klarna has stronger international presence and a European banking license. Affirm has deeper US merchant integrations. Both face the same competitive and regulatory pressures.
Sources
- Klarna Group plc: S-1 Registration Statement (March 2025)
- NYSE: KLAR listing documentation
- Reuters: “Klarna relaunches IPO, raises $1.37 billion” (September 2025)
- CNBC: “Klarna IPO prices at $40 per share” (September 2025)
- Wikipedia: Klarna company history and financials
- CFPB: Buy Now Pay Later regulatory guidance
- Yahoo Finance: KLAR, AFRM, SQ, PYPL stock data