(Bloomberg) -- Klarna Bank AB, the Swedish fintech that was once Europe’s most valuable startup, may soon launch a stock market listing in the US, according to Chief Executive Officer Sebastian Siemiatkowski.

“It’s very likely that this is going to happen quite soon, but there are no official dates,” he said in a video interview with BNN Bloomberg in Canada.

The CEO pointed out that the US is a natural choice for an initial public offering given that it is the firm’s largest market by revenue. “So it is obviously leaning toward that direction,” he said.

Speculation has been rife about when Klarna will IPO, with the UK and its home market of Sweden being other potential possibilities for a listing. In November, the buy-now-pay-later firm set up a new UK holding company in what was seen as the preparatory work for an eventual public offering. 

Siemiatkowski sounded less bullish on the prospects of a listing in Europe. The markets in Germany, UK and Sweden “are still very small compared to the US one,” he said. “In the US, there is a bigger understanding for fintech and tech companies among the investor base.”

Last year, Klarna saw its valuation slashed to $6.7 billion from about $45.6 billion while it cut jobs, office space and other costs, as investors reconsidered the growth of easy credit at a time of rising interest rates. In December, the value rose to $7.85 billion alongside the fintech reporting its first quarterly operating profit in four years.

“I want to make sure that all investors in Klarna have a tremendous investment,” he said. 

Read More: Klarna’s Valuation Boosted by Investor After Profitable Quarter

©2024 Bloomberg L.P.