It’s a long road for 20-year-old FinTech Klarna Go to IPO. But on Wednesday, the company successfully landed on the New York Stock Exchange Raised $1.4 billionmainly used for existing investors, not themselves.
The fintech giant sold its shares for $40, up from its announced $35 to $37 stock and set out at a $15 billion valuation. The stock broke out, opening at $52, although it was soon set to around $46.
Of the 34.3 million Krana shares sold, the company sold only 5 million shares It says. The rest are sold by existing investors such as the company’s largest Sequoia Capital. Entities controlled by Dutch billionaires Anders Holch Povlsen, Silver Lake, Blackrock, and others are also for sale. Despite cashing out some stocks, they all hold most of the shares.
Figma’s IPO did something similar. However, These existing investors usually don’t want to sell at IPO pricesVC tells TechCrunch. They launched stocks to help companies meet IPO needs. Floating more stocks helps the company get more accurate, and even higher valuations, as it can help the IPO attract the largest institutional investors who don’t bother the IPO for small allocations.
In Klarna’s case, co-founder CEO Sebastian Siemiatkowski did not sell any shares. His shares are worth $1.02 billion and his IPO is priced at $40, and he controls 7.5% of the company.
Victor Jacobsson, Co-founder who left the company in 2012indeed for sale, but still, is still a larger shareholder. He cashed out of 1.1 million shares, but still retained over 8% of the company.
Co-founder Niklas Adalberth still owns less than 3 million shares. Krana made public.
Sequoia is Kralna’s largest investor to date, controlling nearly 23%. The famous VC Michael Moritz Sequoia added another member Go to the board of directors in Krana. But when Andrew Reed of Sequoia joined the board in 2024, it finally put itself in order.
“This moment feels surreal,” Siemiatkowski Share in comments posted. “When we started Krana in 2005, it was just a crazy idea – I, Nicklas and Victor were wandering around trying to make people more smooth about shopping and payments for people. We were turned down, turned down, laughing on my number of times.
He continued: “It’s huge in New York. It’s not just a milestone; it’s a statement. It’s a testament to a group of stubborn dreamers in Stockholm that can take the world and win.”
Interestingly, though, $1.4 billion is not the record for the largest IPO in 2025. Raised $1.5 billion in June.
