Swedish fintech Klarna to begin trading on NYSE after raising $1.37 billion in IPO, leading U.S. IPO market’s biggest week. Klarna valued at $15.1 billion, selling 34.3 million shares at $40 each. Klarna’s BNPL model reshaping online shopping, gaining momentum amid inflation and income growth challenges.

Klarna’s IPO seen as a gauge for BNPL sector’s potential, with U.S. rival Affirm commanding a $29 billion market valuation. Klarna focuses on smaller purchases, Affirm on big-ticket items. BNPL projected to gain market share from debit cards as consumers seek payment flexibility over time.

Klarna, profitable for 14 years, faced recent losses as it expanded globally. BNPL model gaining popularity post-COVID, with Klarna and Affirm at the forefront. Klarna’s NYSE listing reinforces rebound in U.S. IPO market, with strong lineup of companies going public.

Read more at Yahoo Finance: Swedish fintech Klarna set for hotly anticipated NYSE debut after $1.37 billion IPO