(Bloomberg) -- Klarna Bank AB is prepared for an initial public offering after an expansion globally and in the US, which is now the buy-now, pay-later firm’s largest market by revenue, Chief Executive Officer Sebastian Siemiatkowski said.

“We’re definitely ready,” Siemiatkowski said Tuesday in a Bloomberg Television interview. Asked whether a stock sale could come even earlier than the first quarter of next year, he said, “Everything’s possible.”

The Swedish fintech — which was once Europe’s most valuable startup — is moving forward with plans for a potential US listing that could be one of the largest IPOs this year. The company was in discussions with investment banks to work on the deal, Bloomberg reported in February.

Those talks continue, Siemiatkowski said during a separate interview in New York, where he said he’s meeting with banks. Klarna is leaning toward listing in the US, he said. A move to set up a new UK-based holding company as part of the IPO preparations gives it flexibility on any listing, the CEO said.

“We wanted to establish ourself as a global business — that meant success in the US, both in awareness and profitability,” Siemiatkowski said on Bloomberg TV. “With almost 40 million users in the US, and it being profitable – actually our largest market by revenue — those kind of criteria have been met.”

Siemiatkowski noted that London has been “particularly looking for commitment,” as the UK seeks to bolster the city’s attraction as a financial hub following its departure from the EU.    

Sky News reported Tuesday that the firm is honing in on a New York listing early next year, valuing the firm at as much as $20 billion.

Founded in 2005, Klarna offers credit to about 150 million shoppers globally looking to spread the cost of online purchases over multiple weeks. According to the company, 96% of Klarna BNPL customers paid bills off early or on time in 2023 in the US.

--With assistance from Ryan Gould, Caroline Hyde and Ed Ludlow.

(Updates with further context, comments from Siemiatkowski from third paragraph.)

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