Klarna has chosen to IPO in the US, after the Swedish fintech filed IPO documents with US regulators.

The move draws a close to long-running speculation around when Klarna would go public and which market it would list in.

The Swedish BNPL firm said it had confidentially submitted draft documentation for a proposed IPO with the US Securities and Exchange Commission (SEC).

Klarna, one of the most well-known European fintechs, said the number of shares offered and price range had yet to be determined.

The fintech said the IPO is expected to take place after the SEC completes its review process, subject to market and other conditions.

Klarna is currently making a big play in the US, which is now its biggest market by revenue.

Earlier this year, CEO and co-founder Sebastian Siemiatkowski suggested that Klarna would list in 2025.

According to Reuters, the CEO said Klarna might favour the US but had also considered listing in Europe.

Klarna shareholder Chrysalis recently upped the value of its stake in Klarna to $154m, giving it a valuation of around $14.6bn, according to Bloomberg.

Klarna was previously valued at $45.6bn in a 2021 funding round.