Klarna stock (KLAR): Revenue, Users, Valuation & How to invest

What is Klarna and how does it work?

Klarna is one of the world’s leading fintech companies in digital payments and Buy Now, Pay Later (BNPL). Founded in Sweden in 2005 as a PayPal alternative, the company really took off after introducing its BNPL service in 2014-2016. As of Q2 2026, Klarna has about 120 million active consumers across 26 markets and more than 1.2 million merchants, including prominent names such as Walmart, eBay, Stripe, H&M, and Sephora.

Its appeal lies in payment flexibility. Depending on where you live, you can either delay payment or split purchases into instalments. In the UK, Klarna lets you pay in three interest-free instalments or settle the full amount within 30 days. In the US and markets like Australia, purchases are usually divided into four interest-free instalments over six weeks, with longer financing options also available through Klarna’s Fair Financing product.

Although it isn’t a credit card, Klarna is a form of consumer credit. Signing up and making a purchase often involves a soft (and sometimes hard) credit check, so it’s important to use it responsibly. Klarna is increasingly positioning itself as a global digital bank, with services that now extend beyond BNPL to include the Klarna Card (6.5 million active users in 16 countries as of Q2 2026), savings accounts, Fair Financing and paid memberships (2 million subscribers).

Financially, Klarna is scaling. For the full year 2025, it reported $3.5 billion in revenue (+25% year on year) and gross merchandise volume (GMV) of $127.9 billion (+22%), with a net loss of $294 million. In Q2 2026, it reported revenue of $1.042 billion (+27%), GMV of $36.6 billion (+18%, with the US up 27%), net income of $9 million and adjusted operating income of $91 million.

At the same time, Klarna cut its 2026 outlook, to GMV of $149 to $151 billion and revenue of $4.08 to $4.16 billion, citing tougher comparisons with 2025, currency headwinds and weaker consumer spending in Germany. The shares fell 19% on the day.

Regulation is also tightening. Since 15 July 2026, BNPL in the UK has been regulated by the Financial Conduct Authority (FCA), which requires affordability checks, clearer information and support for customers in financial difficulty. Similar regulatory tightening is underway in the EU under the revised Consumer Credit Directive.

Klarna Key Company Facts

Klarna Company Statistics

Below is a breakdown of Klarna’s key figures, including revenue, profit, GMV, active consumers, merchants and valuation.

Revenue estimates for Klarna

Klarna profit/loss

Despite a net loss of $294 million in 2025, Klarna delivered $65 million in adjusted operating profit (adjusted operating margin of 1.9%). The loss reflects IPO-related expenses, share-based compensation, restructuring costs and continued investment in US growth. Klarna returned to a net profit in Q2 2026, with $9 million.

Klarna’s gross merchandise volume (GMV)

Number of Klarna users

Klarna counts as active consumers those who used its services in the last 12 months. Growth has slowed in 2026 as Klarna focuses on getting each customer to use it more often: daily transactions rose to 3.8 million in Q2 2026, and 2 million people now pay for a Klarna membership.

Number of Klarna merchants

Estimated Klarna valuation

Valuations through 2024 are based on private funding rounds and secondary market transactions. From September 2025 onwards, the figure is the public market capitalisation. Since the IPO, KLAR has traded between about $12 and $57 a share, and it has stayed below the $40 IPO price for all of 2026.

Klarna’s competitors

The BNPL and digital payments space has become increasingly competitive, with both pure-play BNPL providers and large incumbents pushing into the category. Here are the most notable competitors to Klarna:

• Affirm (Nasdaq: AFRM): Klarna’s strongest US rival, with 27.8 million active consumers and 571,000 active merchants at the end of its fiscal year in June 2026. Affirm has become the default BNPL partner for major US platforms including Amazon, Walmart, Apple Pay, Google Pay, Shopify, and Visa.
• Afterpay (Block): one of the biggest global BNPL players, owned by Block (NYSE: XYZ) since the $29B acquisition in 2022. Strong in Australia, the US, and the UK.
• PayPal Pay Later: PayPal’s Pay in 4 and longer-term financing products are used by tens of millions of consumers in the US, UK, and Europe, leveraging PayPal’s massive user base and merchant network.
• Zip Co (ASX: ZIP): Australian BNPL provider focused primarily on Australia and the US, listed on the ASX.
• Sezzle (Nasdaq: SEZL): US-focused BNPL provider listed on Nasdaq, with growing market share among younger consumers.
• Zilch: a UK-based, FCA-regulated BNPL company.
• Splitit, Perpay and ViaBill: smaller BNPL or instalment-credit providers operating in specific markets or niches.
• Banks and card networks: traditional credit issuers (American Express, Capital One) and card networks (Visa, Mastercard) have launched instalment products of their own, blurring the line between BNPL and traditional credit cards.

Apple Pay Later was discontinued in June 2024. Apple now works with Affirm, Klarna and other lenders to offer instalments through Apple Pay.

Who are the biggest investors in Klarna?

Since completing its IPO on September 10, 2025, Klarna is publicly traded on the NYSE (KLAR), meaning anyone can buy shares through a standard brokerage account. However, the largest pre-IPO investors continue to hold significant stakes. Notable shareholders at the time of the IPO included:

• Sequoia Capital (about 20% to 22%): by far the largest institutional shareholder. Michael Moritz wrote Sequoia’s first check in 2010 and stayed on as Klarna’s chairperson. The firm’s $500 million total investment was valued at roughly $3.5 billion at the IPO closing price, about seven times the capital invested.
• Heartland A/S (about 9% to 10%): the holding company of Danish billionaire Anders Holch Povlsen (founder of fashion group Bestseller), Klarna’s second-largest shareholder. First invested in 2015.
• Victor Jacobsson (about 8%): Klarna co-founder (departed operationally in 2012) and the largest individual shareholder among the founders.
• Sebastian Siemiatkowski (about 7.5%): co-founder and CEO. His stake was worth roughly $1 billion at the IPO price, and he did not sell any shares in the IPO.
• Niklas Adalberth: co-founder (departed in 2015 to focus on his Norrsken Foundation), still holds just under 3 million shares.
• Silver Lake, BlackRock, GIC, Mubadala Investment Company, Canada Pension Plan Investment Board (CPPIB), Permira, Commonwealth Bank of Australia, Dragoneer, and SoftBank: all remain meaningful institutional investors from the various pre-IPO rounds. No single investor outside Sequoia and Heartland held more than 5% at IPO.

A six-month lock-up restricted pre-IPO shareholders from selling more shares after the IPO. It expired in March 2026, so current stakes may differ from the figures above. Check Klarna’s latest filings for up-to-date ownership.

The Klarna IPO

After years of speculation, Klarna completed its long-awaited US IPO on September 10, 2025, listing on the New York Stock Exchange under the ticker KLAR. The company priced its offering at $40 per share (above the indicated $35-$37 range), raising approximately $1.37 billion and implying a valuation of around $15.1 billion. The stock opened at $52 on its first day of trading and closed at $45.82, up 14.5%.

Of the 34.3 million shares sold in the IPO, only 5 million came from Klarna itself. The remainder were sold by existing shareholders such as Sequoia Capital, Silver Lake, BlackRock, and entities controlled by Danish billionaire Anders Holch Povlsen. CEO Sebastian Siemiatkowski did not sell any shares.

The road to the IPO was a long one. Klarna’s valuation peaked at $45.6 billion in June 2021 during the pandemic-era fintech boom, then collapsed to $6.7 billion in a July 2022 down round amid rising interest rates and a broad tech repricing. The company subsequently rebuilt profitability, reported its first GAAP-positive annual net income in 2024 ($21 million on $2.81 billion in revenue), and filed its F-1 with the SEC in March 2025. The IPO was briefly paused in April 2025 amid market volatility tied to new US tariffs, before relaunching successfully in September.

Post-IPO performance has been challenging. After the strong debut, KLAR shares fell below the $40 IPO price and dropped 19% after the Q2 2026 results, when Klarna cut its 2026 outlook. In early October 2026, the stock traded at about $12.5, giving the company a market capitalisation of about $4.7 billion, less than a third of its IPO valuation. Investor focus is on Klarna’s ability to scale its banking products (Klarna Card, Fair Financing, savings, memberships), maintain underwriting discipline and turn its first quarterly profit into sustained GAAP profitability.

How to invest and buy shares of Klarna

Following the Klarna IPO, investors are now free to buy and sell the newly listed shares on the open market. Klarna stock is accessible through several major online brokerage platforms, including Interactive Brokers and eToro, both of which are widely regarded as low-cost and beginner-friendly options.

Interactive Brokers is one of the most established global brokers in the market. Founded in 1978, listed on Nasdaq (IBKR) and part of the S&P 500 since August 2025, the platform offers access to 170 markets in 40 countries, with the ability to trade stocks, bonds, ETFs, forex, mutual funds, commodities, options, futures, CFDs, and crypto futures, all from a single account. It is widely regarded as one of the lowest-cost brokers in the industry for active and global investors.

If you want to buy Klarna stock (NYSE: KLAR), here is how you can do it through Interactive Brokers:

1. Open a trading account with Interactive Brokers and complete the identity verification process.
2. Fund your account via bank transfer, debit card, or wire transfer.
3. Search for the Klarna stock using the ticker symbol KLAR (listed on the NYSE).
4. Choose your order type (market, limit, stop, etc.) and the number of shares you want to buy.
5. Place the order and continue to monitor the position as part of your broader portfolio.

For a full breakdown of fees, account types, platforms, and features, check out our in-depth Interactive Brokers review.

eToro is a global multi-asset investment platform founded in 2007 in Israel, with more than 4 million funded accounts. The company has been listed on Nasdaq (ETOR) since its IPO in May 2025. Real stocks such as KLAR cost $1 or $2 per trade (other fees apply). eToro is best known for its social and copy-trading features, which let users follow and automatically replicate the trades of top-performing investors. The platform supports stocks, ETFs, forex, commodities, cryptocurrencies, and CFDs.

Here is how you can buy Klarna shares (NYSE: KLAR) using eToro:

1. Open an account with eToro and complete the identity verification process.
2. Fund your account using bank transfer, debit/credit card, e-wallet, or other supported methods.
3. Search for “Klarna” or the ticker symbol KLAR in the search bar.
4. Click Trade, then Buy.
5. Enter the amount you want to invest (eToro supports fractional shares, so you can invest as little as $10).
6. Make sure leverage is set to X1 if you want to own the underlying shares rather than a CFD position.
7. (Optional) Set a take-profit and stop-loss to automate exit conditions.
8. Click Open Trade to confirm the order.

For a full breakdown of eToro’s fees, account features, and copy-trading mechanics, check out our in-depth eToro review.

Bottom line on investing in the Klarna stock

The Klarna IPO was long expected to be a landmark moment for the fintech sector, and when it finally arrived in September 2025, it marked the end of a turbulent journey. At its peak in 2021, Klarna was valued at more than $45 billion, making it one of the most valuable fintech companies in the world. That momentum reversed sharply during the 2022 tech downturn, with the company’s valuation falling to around $6.7 billion as investors moved away from loss-making growth stocks.

In the years that followed, Klarna focused on stabilisation and efficiency. The company delivered its first GAAP-positive annual net income in 2024 ($21 million), grew revenue to $3.5 billion in 2025 (+25% YoY), and accelerated its evolution from a pure BNPL provider into a global digital bank with cards, savings, and Fair Financing products. By the time of its IPO in September 2025, Klarna was valued at around $15 billion, well below its pandemic-era peak.

Now publicly listed on the NYSE (KLAR), investor attention has shifted from speculation around when Klarna would go public to how it will perform as a listed company. Growth is supported by Klarna’s global scale, strong consumer brand, partnerships with major merchants such as Walmart, eBay, Stripe, H&M, and Sephora, and rapid US expansion (US GMV grew 27% year on year in Q2 2026). At the same time, Klarna operates in an increasingly competitive environment, facing established rivals such as Affirm, Afterpay (Block), and PayPal Pay Later, alongside growing pressure from traditional banks and card networks rolling out their own instalment products.

Post-IPO performance has been challenging, with KLAR shares trading well below the $40 IPO price throughout 2026 (about $12.5 and a market capitalisation of about $4.7 billion in early October 2026). The market wants evidence that Klarna can turn its operating momentum into sustained GAAP profitability while keeping credit losses under control.

Klarna remains one of the biggest names in BNPL and consumer fintech. Its 120 million active consumers, more than 1.2 million merchant partners, expanding banking product suite, and improving operating economics provide a solid foundation as it enters life as a public company. Whether it can deliver sustained profitability and long-term shareholder returns will now be judged quarter by quarter, not by IPO rumours but by results.