Klarna, the Swedish embedded BNPL provider, has paused its plans for its U.S. IPO due to market instability caused by President Trump’s new tariffs, which are disrupting global markets. The decision complicates the recovery of the U.S. IPO market, as Klarna’s listing was expected to encourage other companies, including wealthtech eToro, to follow suit. While Klarna may reassess its IPO plans if conditions stabilize, its valuation has significantly dropped from $45.6 billion in 2021 to under $15 billion in 2024.

Sweden’s Klarna Pauses US IPO Plans as Tariffs Roil Markets