Specialist dealers work on September 10, 2025 in the post for Swedish Fintech Klarna during the company's IPO on the New York Stock Exchange in New York.
Brendan McDermid | Reuters
According to the Swedish payment group Clear Investors over 17 billion US dollars in the first stock exchange unit consider which big fintech name will be next to go public.
Klarna appeared up to 30% on the day of his New York IPO before setting up by 15% higher. The share went back to $ 42.92 until Friday, but still rose by 7% compared to the IPO price of $ 40.
The debut has shown how Wall Street welcomes the bumper -fintech listings. In front of Klarna, online trading platform Etoro, StableCoin issued Circle and crypto exchange Optimistic Everyone went to a positive reception on the first day.
Gemini, the crypto exchange founded by Cameron and Tyler Winklevoss, rose by 14%on Friday.
“I think the IPO of Klarna would be positive from some of the other reduced providers,” Gautam Pillai, Head of Fintech Research at British Investment Bank Peel Hunt, told CNBC.
There is a crowded pipeline from FinTech names that could be next to the IPO to Klarna. CNBC looks at which companies look most promising.
Strip
Patrick Collison, Chief Executive Officer and co-founder of Stripe Inc., left, smiles as John Collison, President and co-founder of Stripe Inc., speaks 1.0 television interviews in San Francisco, California in California on Friday, March 23, 2018.
Bloomberg | Bloomberg | Getty pictures
The digital payment company Stripe has been considered an IPO candidate for years. Stripe has remained a private company in the 15 years since its foundation, and the founders and the brothers John and Patrick Collison have long resisted the pressure to bring business with the public.
However, this does not mean that a stock marketing list did not occur in Stripe. In 2023, the Collison informed employees that Stripe would either decide to either go to the stock exchange or allow employees to sell shares through a secondary offer within the next year.
Ultimately, Stripe opted for a secondary sales sale in January and rated the company with 91.5 billion US dollars -near the top rating of 95 billion US dollars that the company reached in 2021.
This does not mean that Stripe could not pursue a stock exchange debut below. Many CEOs from FinTech Unicorn have clearly kept an eye on the eye for signs of when the right moment for the list is.
Revolution
The CEO of Revolut Nikolay Storonsky on the Web Summit in Lisbon, Portugal, November 7, 2019.
Pedro Nunes | Reuters
Revolut is generally seen as a potential future FinTech -Po candidate. The Digital Banking Unicorn announced CNBC last week that the employees recently had the opportunity to sell shares on the secondary market with an assessment of 75 billion US dollars and to place them over a few large British banks according to market value.
“As part of our engagement for our employees, we regularly offer you the opportunity to achieve liquidity,” a revolut spokesman told CNBC at that time. “An employee of the secondary level of employees is currently being processed and we will only comment on if he is complete.”
The secondary round buys Revolut for some time to stay private longer and at the same time give employees the opportunity to leave some of their stocks. At the same time, Revolut is now making it one of the most valuable private fintech companies in the world.
With regard to the listing of Revolut, the United States appears the most likely place at the moment. Co-founder and CEO Nikolay Storonsky spoke openly about his preference for the list in the USA due to problems with the London IPO market. Last year he informed the 20VC podcast that it was “simply not rational” to go into the stock exchange in Great Britain
Monzo
The British Digital Bank Monzo is another candidate for the public markets.
At the beginning of this year, a Sky News report appeared in which it became known that Monzo Banker had worked on an IPO that could already take place in the first half of 2026.
In a Fireside discussion, which was moderated by CNBC at SXSW London, the CEO of Monzo, TS Anil said that an IPO “not what we are concentrating on”, but it is worth mentioning that this was in June.
“What we concentrate on is the yardstick, business, growth, double it, you can achieve more customers, build more products and continue to achieve large economic results on the back,” said Anil at the time.
Anil would not comment on where Monzo would list if it were to go to the IPO, but he emphasized that the company was “deeply committed” to be in London worldwide.
Starling Bank
Raman Bhatia, Chief Executive Officer from Starling. Bhatia moved from Ovo Energy Ltd., where he was CEO.
Zed Jameson | Bloomberg | Getty pictures
Monzo's competition Neobank Starling Bank has reportedly considered a first public offer in the USA as part of the expansion plans.
On Thursday, Bloomberg reported that Starling Jody Bhagat, former President of Global Banking, had hired Personetics Technologies at software companies in order to lead the growth of his engine technology unit in the United States
Starling was not immediately available when CNBC was asked about his list plans.
Last year, the CEO of Starling, Raman Bhatia, spoke about the plans of the bank, about Engine, a software platform that Starling sells to other companies worldwide so that they can set up their own digital banks.
“I am very optimistic about the internationalization of the best from Starling – Proprietary technology,” said Bhatia during a fland moderated by CNBC at the Money 20/20 conference.
Starling recently had a private value of £ 2.5 billion in 2022 (3.4 billion US dollars). According to reports, the company would like to achieve an evaluation of £ 4 billion in an upcoming sale of secondary parts.
Payhawk
Saravut vanset | Room | Getty pictures
Although a less well-known name, Payhawk Payhawk also has IPO ambitions.
The expenditure management platform worth $ 1 billion in 2022 and in 2024 to 85% in 2024 to EUR 23.4 million ($ 27.4 million).
“We definitely see the IPO window,” Hristo Borisov, CEO and co-founder of Payhawk, told CNBC in an interview at the beginning of this month. However, he emphasized that “we look more at a five -year horizon there.”
“If you take a look at most of the stock exchange, most of these IPOs are companies with $ 400 million to $ 500 million [annual recurring revenue]”Borisov said.” That is our goal. “
Some honorary boxes
There are other fintechs that look like potential IPO candidates below – but the trajectory looks less clear.
Brad Garlinghouse, CEO of Blockchain company Ripple, said in January last year that the company was investigating the markets outside the USA for an aggressive crypto enforcement regime under ex-securities and Exchange Commission boss Gary Genler.
This could now change thanks to President Donald Trump's pro-crypto posture. Garlinghouse said last year that Ripple put plans for an IPO on ice. The startup recently had a value of $ 15 billion.
Germany's N26 is another potential IPO candidate. Digital Bank had a value of 9 billion US dollars in a financing round of 2021.
However, some setbacks were suspended. N26 co-founder Valentin Stalf recently returned as CEO after being under pressure from investors due to regulatory errors.