Klarna Group Plc has filed for a U.S. initial public offering at a weak moment for company debuts, though the fintech player thinks it can offer investors more than just its buy-now-pay-later products.

The company behind the Philippines’ top mobile wallet GCash is seeking a lower minimum public float of 10%-15% for its planned initial public offering, a top executive said.

By Manya Saini and Arasu Kannagi Basil (Reuters) -Swedish fintech company Klarna on Friday reported a 24% surge in 2024 revenue, as the buy now, pay later pioneer made public its paperwork for a long-awaited stock market debut in the U.

Swedish fintech company Klarna on Friday reported a 24% surge in 2024 revenue, as the buy now, pay later pioneer made public its paperwork for a long-awaited stock market debut in the U.S. Fintech listings soared in 2021 but lost momentum due to rising interest rates and steep valuations.

It’s believed Klarna hopes to achieve a market capitalization of more than $15 billion in the offering. That’s more than double what the company was worth in 2022, but well below the $46 billion valuation it had achieved a year earlier.

The Swedish institution is best known in the U.S. for its buy/now pay later lending. Its New York listing will be a bellwether for the payments technology industry, which is recovering from a post-pan