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Fintech Insider Podcast by 11:FS
915. News: LATAM fintech is booming, Metrobank slapped with a hefty fine, and why Klarna chose NYC for its IPO
Nov 18, 2024
Miguel Armaza, co-founder at Gilgamesh Ventures and host of the Fintech Leaders Podcast, joins Valentina Kristensen, Corporate Affairs Director at OakNorth. They explore the thriving LATAM fintech scene, with Nubank hitting 100 million customers and Ualá securing new funding. Klarna's decision to IPO in the U.S. is dissected, alongside Metrobank's hefty fine for compliance failures. The importance of financial education for children, championed by GoHenry, rounds out the discussion, emphasizing the need for early money management skills.
01:08:06
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Quick takeaways
- Klarna's IPO filing in the U.S. aims to boost its growth and navigate evolving regulations in the buy-now-pay-later market.
- LATAM fintech is rapidly expanding, with Nubank now serving 100 million customers, highlighting a shift away from traditional banking.
Deep dives
Klarna's IPO Move
Klarna has filed for an IPO in the United States, marking a significant moment for the Swedish buy-now-pay-later pioneer. The company experienced a dramatic drop in valuation from $46 billion to approximately $3.7 billion in its last funding round amid a market reassessment of fintech companies. The decision to IPO is primarily aimed at accelerating its growth in the U.S. market, where it has already gained substantial traction with over 37 million customers. Klana's ability to partner with major retailers is seen as essential for expanding this customer base, particularly as new regulations surrounding the buy-now-pay-later model are expected to evolve.
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