🔔BNPL’s Big Test: Klarna Rings the NYSE Bell

Hey FinTech Fanatic,

It finally happened. After years of “will they, won’t they,” Klarna just rang the bell on the NYSE—and Wall Street liked what it heard. 🔔

Shares were indicated to open up to 25% above the $40 IPO price, pushing the Swedish BNPL giant’s market cap close to $19 billion. That’s a big jump from its $6.7B low just two years ago, though still far from its $45B peak in 2021.

The listing doesn’t just mark Klarna’s long-awaited debut—it’s also the largest Swedish company to hit the U.S. markets since Spotify in 2018. And with Gemini and half a dozen other names lining up IPOs this week, the deal could be the spark the U.S. IPO market has been waiting for.

Klarna CEO Sebastian Siemiatkowski didn’t sell a single share, but early backers like Sequoia and Heartland cashed out over $1B.

Klarna made over 40 employees (‘Klarnauts’) millionaires yesterday 🤯

For Klarna, the real test now is convincing investors that BNPL isn’t just a pandemic fad but the next wave of consumer finance.

Scroll down for more FinTech headlines, and I'll be back in your inbox tomorrow!

Cheers,

Marcel

POST OF THE DAY

💰 Visa x AFE25 event: WHAT THE F*NTECH . Following its successful debut at the 2024 Amsterdam FinTech Event. This edition will focus on how stablecoins are reshaping the financial infrastructure, from front-end innovation to back-end systems, and offer a unique platform to explore what’s next in FinTech and payments. Secure your spot today

FINTECH NEWS

🇺🇸 Taktile unveils AI Agents enabling banks to process 5x more SMB loans without extra headcount, eliminating bottlenecks and freeing underwriters to focus on high-value, strategic decisions. Taktile’s AI agents are production-ready, instantly adaptable, and deployable in weeks. 

🇺🇸 Robinhood unveils powerful new tools for active traders at HOOD Summit 2025. The new features include Robinhood Social, a trading community within the app that showcases live, verified trades and authentic profiles for sharing strategies and following experts. Robinhood Legend users can now access AI-powered custom indicators and scans, equities, and crypto trading ladders.

🇺🇸 Klarna reaches a $15 billion valuation as its IPO prices at $40 a share, a major milestone for the Swedish FinTech company after tariff-driven market volatility halted its previous attempt to go public. They added that the company raised just under $1.4 billion in an offering that was roughly 26 times oversubscribed. 

🇺🇸 Uber partners with FinTech firm Pipe to offer capital to small businesses. The process is designed to lower barriers to entry, so it does not require credit checks or personal guarantees. The Pipe CEO stated that the company has seen businesses grow 12% month over month from the capital.

PAYMENTS NEWS

🌎 dLocal and Western Union join forces to boost digital payments in LatAm. The companies have partnered to integrate local payment methods into WU's digital platforms across Latin America, enhancing remittance experiences with cards and bank transfers.

🇺🇸 How ACI Worldwide plans to take APP scams head-on, Part 2. Part 1 of this two-part series explored the rising threat of APP scams in real-time payments, or RTPs, and the role of network intelligence in containing them. Part 2 focuses on how ACI's network intelligence and AI technology are being deployed to detect fraud.

🇬🇭 Flutterwave clarifies Bank of Ghana suspension, confirms core services remain operational. The company noted that the directive pertains only to inbound remittances through its SendApp platform. It emphasized that all other services under its Payment Service Provider licence, including Flutterwave for Business, remain fully operational.

🇺🇸 Mastercard unveils new tools and collaborations to power smarter, safer agentic commerce. Cardholders will be the first to have the opportunity to experience AI-enabled shopping as agentic commerce providers and enablers like PayOS and other industry players go live.

🇬🇧 Global Payments launches Genius™ in the UK. Genius packs all the features in one platform that meets the complex needs of quick service and fast casual restaurants, while also delivering enhanced configurability that enables Global Payments to bring its feature-rich POS platform to customers across a broader range of business needs and sizes.

🇧🇷 OpenFX launches in Brazil. This expansion will dramatically improve the country’s access to the FX markets, supporting its already competitive remittance industry while offering more liquidity to all enterprises that rely on cross-border payments.

🇮🇳 PhonePe launches digital-first Udyam Assist registration for micro businesses. The initiative is aimed at bringing informal micro-enterprises (IMEs) into the formal economy by enabling them to secure Udyam Assist Certificates, which serve as a formal business identity.

DIGITAL BANKING NEWS

🇳🇱 bunq reaches 20 million users as it marks its 10th anniversary. To mark the occasion, bunq has introduced a complete app redesign and a suite of new features. The new design offers a cleaner interface and more intuitive navigation, making it easier for users to stay in control of their money.

🇩🇪 Scalable Capital receives a banking license and will offer loans in the future. The licence enables Scalable to provide all investment and banking services from a single source: alongside responsibility for account management, trading, clearing, settlement, and custody, it will now also accept client funds as deposits and conduct lending business.

🇺🇸 Chime is introducing a new Chime Card with cash back rewards and an elevated design. The new Chime Card helps members build credit with their everyday purchases while adding rewards, a refreshed design, and a seamless in-app experience.

🇬🇧 Revolut introduces Pay by Bank option. Pay by Bank payments offer a more secure solution for merchants and reduce costs by skirting card-based interchange fees. Customers can pay directly from their bank account without the need to manually enter card details.

🇬🇧 Starling Bank targets £4bn valuation in secondary share sale. The neobank has approached investment banks, including Morgan Stanley and Rothschild, to run the sale process. They added that the process could value Starling at between £3.5bn and £4bn.

🇬🇧 London FinTech Monese says it needs more cash to survive after Pockit takeover. The current account and money transfer business said it was likely further funding would be required within the next twelve months, as auditors Blick Rothenberg warned there was a material uncertainty over the firm’s operations.

BLOCKCHAIN/CRYPTO NEWS

🇺🇸 Stablecoin issuer Figure Technologies upsizes IPO as crypto interest soars. The company is now marketing the IPO at a price range of $20 to $22 a share, up from its previous range of $18 to $20 a share. It also raised the number of shares to 31.5 million from around 26 million.

🇪🇺 Cryptocurrency Exchange Kraken expands $3.5 billion tokenized stock trading to the European Union. The expansion allows eligible EU-based investors to trade digital representations of popular U.S. stocks through Kraken's mobile app, powered by Swiss firm Backed's tokenization technology.

PARTNERSHIPS

🇴🇲 Oman Air and CellPoint Digital's Strategic Partnership. Oman Air is accelerating its digital transformation with CellPoint, using smarter payments to boost conversions, reduce fees, and support global expansion. This partnership powers seamless booking experiences and modern retailing as the airline scales across regions.

🇺🇸 Fireblocks and Circle strategically collaborate to accelerate stablecoin adoption for financial institutions. Collaboration combines Circle's established stablecoin network with Fireblocks' institutional-grade custody, tokenization, and payments infrastructure to address banking transformation opportunities.

🇸🇬 Bybit and Sygnum Bank join forces to strengthen institutional crypto security. The move brings together Bybit’s deep liquidity and wide product range with Sygnum’s reputation for secure, regulated digital asset banking. Continue reading

🇺🇸 Trustly and Episode Six partner on US pay-by-bank adoption. The collaboration is designed to enable U.S. retail merchants to accept pay by bank through their existing card networks, potentially reducing complexity and the need for operational overhauls.

🌍 Flutterwave taps Clear Junction to boost cross-border payments. This collaboration aims to reduce costs and delays, ensuring migrants and their families benefit from quicker access to funds and competitive foreign exchange rates. Keep reading

🇺🇸 Chargebacks911 partners with cside to enhance fraud prevention capabilities. Merchants will be able to use data captured by cside as compelling evidence in dispute resolution cases, specifically referencing new programmes like Visa’s Compelling Evidence 3.0 and Mastercard’s First-Party Trust Program.

DONEDEAL FUNDING NEWS

🇺🇸 Mazlo emerges from stealth with $4.6M to help the nonprofit sector, historically left behind by FinTech. Launched in August 2024, it's now used by over 60 organizations in nearly every U.S. state, showing rapid growth and zero churn. Investors see huge potential in a largely underserved $1.5 trillion nonprofit sector.

🇺🇸 Homeowner-focused FinTech Aven raises $110 million funding round. The startup, now worth $2.2 billion, plans to launch new products that complement its home-equity-backed credit cards. Aven’s primary product is a secured credit card designed for prime and super-prime homeowners. 

🇨🇿 Czech FinTech Eterny raises €400,000. Eterny will use the funding to accelerate the development of its AI auditor, expand B2B functionality for banks and family offices, and prepare for international expansion, with pilot tests planned for new markets by the end of the year.

M&A

🇺🇸 Coinbase acquires team to accelerate on-chain consumer roadmap. Sensible expertise in developing DeFi-powered consumer applications will significantly accelerate Coinbase’s on-chain consumer roadmap and support the company’s broader vision of becoming an everything exchange.

🇳🇱 Amsterdam FinTech Dyme acquired by Dutch insurtech firm RISK. With RISK’s backing, Dyme aims to bolster its presence in the Netherlands and make a successful entry into the German market. Keep reading

MOVERS AND SHAKERS

🇺🇸 Mike Milotich named new Marqeta CEO. Milotich will continue to serve as the company's CFO, alongside his new CEO duties, while a replacement for his former position is sourced by the board. Read more

🇦🇪 Dubai-based FinTech Geidea appoints Pankaj Kundra as Chief Executive Officer. In his new role, Pankaj will spearhead Geidea UAE's growth agenda by expanding its product portfolio across payments, merchant solutions, and digital commerce, while deepening relationships with financial institutions, governments, and enterprise clients.

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