Klarna Preps IPO after 5th annual consecutive loss

Swedish BNPL (buy now pay later) fintech Klarna is prepping for an IPO reputedly in New York in order to boost investment. It posted a 2.5bn SEK loss (£191m), an improvement over a 10.4bn SEK loss in 2022. Sebastian, its Chief Executive, said the company was a path to long term profitability but in the short term had decided to invest in growth.  Once one of Europe's most valuable companies, its valuation has been hit by higher interest rates. It has around 150m active users.