Klarna has announced its transformation into a full-service digital bank as it prepares for a renewed attempt to list publicly. The Swedish FinTech, previously focused on ‘buy now, pay later’ (BNPL) products, is now expanding its services to include debit cards, savings accounts and mobile plans.
The transition, revealed in June 2025, marks Klarna’s strategic pivot to diversify revenue streams, address regulatory scrutiny and compete with global neobanks such as Revolut and Chime.
A Klarna spokesperson said: “We’re evolving our offering to meet all of our customers’ banking needs. Our digital services are designed to be simple, secure and convenient.”
Klarna’s move to broaden its product suite follows the postponement of its earlier IPO plans, with the company now focused on demonstrating sustainable growth and profitability. The launch of debit cards and partnerships with providers like Visa and AT&T highlight Klarna’s commitment to creating a one-stop-shop for financial services.
The expansion also aims to reduce Klarna’s reliance on BNPL services, which have faced growing regulatory pressures. With new banking products and services, Klarna seeks to enhance customer loyalty and solidify its position as one of Europe’s leading FinTech brands.
This repositioning is designed to attract investors and prepare Klarna for a stronger, more diversified public listing.
