Klarna gains Walmart partnership, enhancing IPO prospects

Klarna has secured an exclusive deal to provide buy now, pay later loans for Walmart, taking over a partnership previously held by Affirm. This change comes as Klarna prepares for its IPO. Klarna will offer these loans through OnePay, a fintech startup it controls. The transition is expected to occur later this year. Affirm's stock fell 8% following the announcement. Klarna's recent financial performance shows a net profit of $21 million in 2024, a significant recovery from a loss in 2023.