Insights
About
About

Startup News: Sweden’s Klarna plans to launch IPO in U.S. 

In December, fintech firm Klarna made Forge Global’s list of five companies likely to go public this year. At the time, however, it wasn’t clear which country the Stockholm-based company would choose to debut its shares.

Last week, however, Klarna CEO Sebastian Siemiatkowski ended the speculation. In an interview with Bloomberg, he said that the company is eyeing an exchange in the U.S. for an IPO sometime in the near future. Siemiatkowski added that the U.S. is a “natural choice” for an IPO because it’s the company’s largest country market by revenue, dwarfing other countries such as the U.K. and Germany.

Founded in 2005, Klarna provides payment processing for the e-commerce industry. According to Bloomberg, the company saw its valuation cut sharply in the past year to $6.7 billion from about $45.6 billion after weakened business conditions caused by rising interest rates. But the valuation rose to $7.85 billion in December 2023 after the company reported its first quarterly operating profit in four years.

Figma offers improved benefits package to workers after Adobe takeover Shelved

In the wake of a failed acquisition by software maker Abode, Figma has come up with a consolation prize to cheer up workers.

According to Reuters, Figma, a cloud-based platform for collaborative design in corporate team environments, will improve equity packages for employees who remain with the company and also offer an optional program to those who wish to leave the company.

Last month, Adobe — the maker of Photoshop, Acrobat Reader, and other enterprise and consumer software — dropped its $20 billion deal to buy Figma after concluding that there was “no clear path” to winning antitrust approvals in Europe and the U.K. Founded in 2011, San Francisco-based Figma had a valuation of $10.38 billion as of June 2021.

Figure Technologies seeks to launch a Stablecoin

Figure Technologies, the lending-focused fintech that uses the blockchain, is seeking approval to issue an interest-bearing stablecoin.

According to Bloomberg, “The move is a novel attempt at creating a new class of stablecoins with federal legitimacy, and if successful, Figure will be offering the first stablecoin regulated as a security in the U.S."

Bloomberg writes that Figure is seeking to register the stablecoin as so-called “face-amount certificates,” using blockchain technology. If approved, it will be available to both U.S. retail and institutional investors.

Founded in 2018 by serial tech entrepreneur Mike Cagney, San Francisco-based Figure specializes in mortgage financing and bridge loans. Its last known valuation, as of May 2021, was $3.3 billion.

Please Read These Important Legal Notices & Disclosures

The information and material presented in this article is provided for your informational purposes only and does not constitute an offer by Forge Europe GmbH or Forge Europe UK Limited or any of its affiliates to sell, or a solicitation of an offer to buy any securities and may not be used or relied upon in connection with any offer or sale of securities.

If you are a resident or a company registered within Germany this content is for marketing purposes only and on behalf of Forge Europe GmbH of Unter den Linden 38, 10117 Berlin, Germany (registered in the District Court Berlin (Charlottenburg) HRB 240763). Forge Europe GmbH is a tied agent in accordance with §3 (2) WpIG and provides investment brokerage, pursuant to §2 (2) Nr. 3 WpIG, exclusively in the name, on the account and under the liability of Effecta GmbH, Florstadt. If you are resident or a company registered within the United Kingdom or Gibraltar this content is for general marketing purposes only and not a financial promotion on behalf of Forge Europe UK Limited of 10 York Road, London, SE1 7ND, England (registered in England and Wales with company number 14877431). Forge Europe UK Limited is an appointed representative of Kroll Securities Limited which is authorised and regulated by the Financial Conduct Authority (FCA) under Firm Reference Number 466588.

Forge Europe GmbH and, its wholly owned subsidiary, Forge Europe UK Limited (together “Forge Europe”) accept liability to a client as set out in the individual agreement entered into with the client. All other liability to any client is expressly excluded to the fullest extent permitted by applicable laws and regulations. Each Forge Europe company expressly excludes all liability to the fullest extent permitted by applicable laws and regulations to any person who is not a client. You will only be a client if you have entered into a written client agreement with the relevant Forge Europe company. To the extent information about or defining specific terms is provided herein, Forge Europe makes no representations as to its accuracy and has no duty to update such information. Such information is based on experience Forge Europe and its affiliates and the meanings and connotations of terms as Forge Europe typically uses and interprets them. Others may construe such terms differently, and you should do your own research and consult with financial, legal and tax professionals regarding any such concepts included herein.

This article does not constitute an offer to provide investment advice or service. Forge Europe does not (1) advise any member on the merits or prudence of a particular investment or transaction, or (2) assist in the determination of fair value of any security or investment, or (3) provide legal, tax, or transactional advisory services.

Investing in private company securities is not suitable for all investors. An investment in private company securities is highly speculative, involving a high degree of risk, and investors should be prepared to withstand a total loss of your investment. Private company securities are also highly illiquid and there is no guarantee that a market will develop for such securities. Each investment also carries its own specific risks and investors should conduct their own, independent due diligence regarding the investment, including obtaining additional information about the company, opinions, financial projections and legal or investment advice. Accordingly, investing in private company securities is appropriate only for those investors who can tolerate a high degree of risk and do not require a liquid investment. Past performance Is not indicative of future results.

This material may be distributed to, or directed at, only the following persons: (i) persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “FP Order”), (ii) high-net-worth entities falling within Article 49(2) of the FP Order, and (iii) any other persons to whom it may otherwise lawfully be communicated (all such persons together being referred to as “FPO Relevant Persons”). Persons who are not FPO Relevant Persons must not act on or rely on this material or any of its contents. Any investment or investment activity to which this material relates is available only to FPO Relevant Persons and will be engaged in only with FPO Relevant Persons. Recipients must not distribute, publish, reproduce, or disclose this material, in whole or in part, to any other person. This content is for the sole use of the intended recipient(s). Any unauthorized review, use, disclosure or distribution is prohibited.