Klarna had a successful debut on the New York Stock Exchange, with shares rising nearly 15%. The stock opened at $52 per share, a 30% premium to its $40 pricing. More than 34 million shares were sold, making it the largest IPO this year. Klarna entered the U.S. market in 2015 and recently partnered with Walmart.

Klarna’s co-founders are now billionaires after the IPO, with the company’s 20-year-long journey to public trading paying off. Sequoia Capital and Silver Lake, early backers, now own significant stakes. Klarna reported second-quarter revenue of $823 million and an adjusted profit of $29 million. The company aims to rival Affirm as a top buy-now-pay-later provider.

Klarna’s business model offers payment plans like “pay-in-4” and longer-term options, with a global appeal to consumers shying away from credit cards. Concerns about potential financial overextension have been raised, but Klarna says it monitors use closely. Klarna’s delinquency rates are lower than credit card averages, adding to its appeal to investors and consumers.

Read more at Yahoo Finance: Klarna shares rise 15% in their first day of trading on Wall Street