Swedish Fintech Klarana Traders are working during the company’s general subscription on the New York Stock Exchange in New York City, United States, September 10, 2025.
Brendan McDdided Reuters
After the Swedish payment group Claarna 7 billion dollars for the first yearInvestors think about the great Fintech name that will be the next to the public.
clear Up to 30 % On New York’s IPO, before settling about the closure of about 15 %. The stock fell to $ 42.92 by Friday, but it still rises about 7 % of the subscription price of $ 40.
The first appearance of how Wall Street became more welcome to the Fintech lists. Before klarana, online trading platform Etoro, Stablecoin Source circle And the exchange of encryption Climb Everyone is publicly gone to a positive reception on the first day.
GEMINI, the encryption exchanging Cameron and Tyler Winkelvos, 14 % rose In public subscription Friday.
“I think Klarna’s public subscription will be viewed positively by some other restricted sellers,” Gotam Pelay, President of Fintech Research at BRITISH Investment Bank Hunt, told CNBC.
There is a crowded pipeline from the Fintech names that can be next to the public subscription after Klarna. CNBC is looking for companies that look more promising.
tape
Patrick Coleson, CEO and co -founder of Stripe Inc. speaks. , To the left, smiling as John Coleson, President and co -founder of Stripe Inc. During a television Bloomberg Todio 1.0 in San Francisco, California, the United States, on Friday, March 23, 2018.
Bloomberg Bloomberg Gety pictures
Stripe Stripe has been seen for years as a public subscription competitor. Stripe has remained a private company within 15 years since its foundation, and the founders and brothers John and Patrick Koleson have long been resisted to take businessmen.
However, this does not mean that the stock market list was not in Strip’s mind. Coleson told employees in 2023 that Stripe would be decided to either allow employees to sell stocks through a secondary offer during the next year.
In the end, he chose the tape in January Selling secondary stocksThe company’s evaluation of 91.5 billion dollars – close to the peak of its evaluation of $ 95 billion, which the company achieved in 2021.
This does not mean that Stripe still can continue the first appearance of more stock market. It was the executives of Fintech Unicorn Klarna’s public subscription performance To get signs when the right moment will be for the insertion.
revolution
CEO of Revolution Nikolay Storonsky at the web summit in Lisbon, Portugal, November 7, 2019.
Pedro Nunes Reuters
A widespread revolution as a possible candidate in the future is seen in the future. The CNBC digital UNICORN reported last week that it recently gave employees the opportunity to sell shares in the secondary market with a huge evaluation of $ 75 billion, which increases some major banks in the United Kingdom according to the market value.
“As part of our commitment to our employees, we regularly provide them with opportunities to gain liquidity,” CNBC spokesman told CNBC at the time. “The secondary shares are currently selling to the employee, and we will not attach more until it is completed.”
The secondary tour buys a rebellion for some time to stay special for a longer period, while employees still offer the opportunity to get out of some of their properties. At the same time, though, it makes Revolution one of the most private Fintech companies in the world.
Regarding the place where the revolution is listed, at the present time, the United States shows a respectable position. Participant founder and CEO Nikolai Storonsky spoke frankly about his preference for his inclusion in the United States due to problems related to the public subscription market in London. Last year, it is Tell the podcast 20VC It was “not rational” for the public in the United Kingdom
Monzo
After I arrived recently 5.9 billion dollars evaluation In the sale of secondary shares, British Digital Bank Monzo is another competitor to public markets.
A report appeared earlier this year from Heaven News However, Monzo lined up bankers to work on the public subscription, which could happen early in the first half of 2026.
However, in discussing the aspect of the fires that CNBC managed at SXSW London, CEO of Monzo Ts Anil said that the public subscription is not the thing that we are now focusing on ” – It should be noted that this has returned in June.
Anil said at that time: “The thing we focus on is to expand the scope of work, continue to grow, double again, reach more customers, build more products, and continue to drive great economic results on the back.”
Anil will not comment on the place where Monzo was listed if it was to the public subscription, but he stressed that the company is “deeply committed” that it is based in the world in London.
Starling Bank
Raman Bhatia, CEO of Starling. Bathia moved from Ovo Energy Ltd. Where he was the CEO.
Zaid Jameson Bloomberg Gety pictures
According to Monzo’s competing with a preliminary general offer in the United States as part of the expansion plans there.
Thursday , I mentioned Bloomberg Starling Judy Bahgat, the former Global Banking president at Profirmance Technologies, has been rented to lead the growth of the US Motor Technology Unit in the United States
Starling was not immediately available for comment when CNBC was asked about its listing plans.
Last year, Raman Bhatia, CEO of Starling, spoke about the bank’s plans to expand worldwide via Engine, a software platform that Starling sells to other companies so that they can prepare their digital banks.
“I am very optimistic about this approach about internationalizing the best in technology – royal technology,” Bhatia said during a conversation at the Money 20/20 conference managed by CNBC.
Starling was Its value remains in particular at a value of 2.5 billion pounds ($ 3.4 billion) In a 2022 financing round. However, reports indicate that the company We look forward to bringing a rating of 4 billion pounds In the sale of the upcoming secondary stocks.
Payhawk
SaravutvanSet | Room Gety pictures
Although it is the name of the least well -known, Fintech Bulgaria of its founding Payhawk also has public subscription ambitions.
The spending management platform was At a value of $ 1 billion in 2022 The increased revenue by 85 % on an annual basis in 2024 to 23.4 million euros (27.4 million dollars).
“We are sure to see the public subscription window open,” Payhawk CEO and co -founder of Hristo Borisov told CNBC in an interview earlier this month. However, he stressed, “We look at more than a five -year horizon there.”
“If you look at the majority of subscriptions, the majority of these subscriptions are companies that range between 400 million dollars to $ 500 million (repeated annual revenues),” Borisov said. “This is our goal.”
Some honorary signs
There is another technique that looks like potential public subscription competitors at the bottom of the line – but the path seems less clear.
Brad Garlinghyus, CEO of Blockchain Ripple, CNBC in January last year, said the company Explore the markets outside the United States For the public subscription due to the system of aggressive encryption enforcement in the framework of the former chairman and the stock exchange, Gary Ginsler.
This can now change thanks to President Donald Trump’s position in support of the situation. Garlinghyus said last year although Ripple had made any public subscription plans, “said Garlinghyus last year, although Ripple had made any public subscription plans. It was recently starting $ 15 billion.
Germany N26 is another possible public subscription competitor. The value of the digital bank amounted to 9 billion dollars in a 2021 financing round.
However, I faced some setbacks. N26 co -founder Valentin will recently corrected Revised as an executive president After facing pressure from investors on organizational failures.
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