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Professional traders work on the Postal Service of Swedish Fintech Klarna during their IPO on September 10, 2025 at the New York Stock Exchange in New York City, USA.
Brendan McDermid | Reuters
After the Swedish Payment Group Krana’s $17 billion in IPOinvestors are thinking about which big fintech name will be the next public name.
Clear Pop up to 30% On the day of its New York IPO, it closed above 15% before settling down. By Friday, the stock fell further to $42.92, but its IPO price was still about 7% higher.
The debut shows how Wall Street is increasingly welcoming the bumper fintech list. Before Klarna, online trading platform Etoro, Stablecoin issuer Circle Communicate with encrypted Bullish All made an active first day reception open.
Gemini, a crypto exchange founded by Cameron and Taylor Winkelworth, Soaring 14% IPO on Friday.
“I think the Klarna IPO will be viewed positively by some other expanded suppliers,” Gautam Pillai, head of Fintech Research at the UK investment bank Peel Hunt, told CNBC.
There is a crowded pipeline of fintech names next to the IPO after Kralna. CNBC looked at which companies look the most promising.
stripe
Stripe Inc. CEO and co-founder Patrick Collison spoke in a Bloomberg Studio 1.0 TV interview in San Francisco, California, on Friday, March 23, 2018. John Collison, president and co-founder of Stripe Inc. spoke in a Bloomberg Studio 1.0 TV interview in San Francisco, California, USA.
Bloomberg|Bloomberg|Getty Images
Digital payment companies have been seen as IPO competitors for many years. For 15 years since its inception, Stripe has been a private company, with founders and brothers John and Patrick Collison long resisting pressure to make their business public.
However, this does not mean that stock market listing has not yet been thought of. Collisons told employees in 2023 that Stripe will decide to sell shares through secondary products next year, or allow employees to sell shares on stock next year.
Finally, Stripe of January chose Sub-stock salesthe company is valued at $91.5 billion – the company achieved a peak valuation of $95 billion in 2021.
That doesn’t mean Stripe is still unable to make its debut in further stock markets. Many fintech unicorn CEOs Keep an eye on Krana’s IPO performance For when will be a sign of correctly listed.
rovolut
Revolut CEO Nikolay Storonsky was at a cybersummit in Lisbon, Portugal on November 7, 2019.
Pedro Nunes | Reuters
Revolut is widely regarded as a potential future fintech IPO candidate. The digital bank unicorn told CNBC last week that it recently gave employees the opportunity to sell shares in the secondary market at a valuation of up to $75 billion, thus placing it on some divided UK banks.
“We regularly provide liquidity to employees as part of our commitment to our employees,” a Revolut spokesperson told CNBC at the time. “The secondary stock sales for employees are currently underway and we will not comment further until after completion.”
The secondary round bought revolutionary weapons for a period of time to remain private for longer while still providing employees with the opportunity to exit some holdings. At the same time, though, it now makes Revolut one of the most valuable private fintech companies in the world.
As for the locations listed by Revolut, the United States seems to be the most likely location right now. Co-founder and CEO Nikolay Storonsky spoke frankly about his preference in the United States due to issues with the London IPO market. Last year, he Tell the 20VC podcast It is “unreasonable” to openly publicly in the UK
Monzo
It has recently been reached $5.9 billion valuation In a minor share sale, British digital bank Monzo is another contender in the public market.
A report surfaced earlier this year Sky News That said, Monzo has lined up bankers for an IPO, which could be held as early as the first half of 2026.
But during a fireside discussion at CNBC at SXSW London, Monzo CEO TS Anil said the IPO was “not something we are paying attention to right now” – notably, although this is back in June.
“We’re focusing on expanding the business, continuing to grow it, doubling it again, attracting more customers, building more products, and continuing to drive the huge economic outcomes behind it,” Anil said at the time.
Anil won’t comment on Monzo if it’s an IPO, he stressed that the company is “very committed to” its global headquarters in London.
Starling Bank
Starling’s incoming CEO Raman Bhatia. Bhatia moved from OVO Energy Ltd. to where he served as CEO.
Zed Jameson | Bloomberg | Getty Images
Monzo’s rival Neobank Starling Bank is reportedly considering an initial public offering in the U.S. as part of an expansion plan there.
Thursday, Bloomberg reports Starling hires Jody Bhagat, former president of global banking at software company Personitics Technologies, to lead growth in its engine technology division in the U.S.
Starling was unable to comment immediately when CNBC asked about its listing plan.
Last year, Starling CEO Raman Bhatia talked about the bank’s plans to expand globally through Engine, a software platform Starling sells to other companies so that they can build their own digital bank.
“I appreciate this best approach to Starling internationalization,” Batia said in a Fireside chat at the 20/20 conference hosted by CNBC.
Starling is The final private value is £2.5 billion ($3.4 billion) In the 2022 funding round. However, the report shows that the company is Hope to get a £4 billion valuation In the upcoming secondary stock.
Payhawk
Saravutvanset | Room | Getty Images
Although it is a little-known name, Payhawk, a fintech company founded in Bulgaria, also has IPO ambitions.
The expenditure management platform is Valued at $1 billion in 2022 And bring revenue growth rate to 85% in 2024 to 23.4 million euros (US$27.4 million).
“We will definitely see the IPO window open,” Payhawk CEO and co-founder Hristo Borisov told CNBC in an interview earlier this month. However, he stressed: “We are looking for more five-year horizons.”
“If you look at most of the IPOs, most of these IPOs are companies with ARR (annual recurring revenue) of $400 million to $500 million,” Borisov said. “That’s our goal.”
Some honors are mentioned
There are other fintechs that look like potential IPO competitors, but the trajectory looks less clear.
Brad Garlinghouse, CEO of blockchain company Ripple, told CNBC last January Explore markets outside the United States IPOs resulted from its active crypto enforcement regime under former head of the Security Council and Transaction Commission Gary Gensler.
With President Donald Trump’s pro-Criputo position, that can now change. Garlinghouse said last year that although Ripple has put on hold plans for any IPO. This startup has recently been Valued at $15 billion.
Germany’s N26 is another potential IPO competitor. Digital banks are worth $9 billion 2021 Fund Reversal.
However, it faces some setbacks. N26 Co-founder Valentin Stalf Resigned as CEO After facing pressure from investors on regulatory failure.
