Fintech IPOs return with precious little credit in the bank

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Financial Times 1d ago

Fintech IPOs return with precious little credit in the bank - Financial Times

Quick Summary:

Financial technology start-ups often talk as if they are blazing new trails through a world of staid incumbents.

Affirm — Klarna’s closest public peer — is trading above its IPO price, but is down 40 per cent since the close of its first day of trading.

Most of the new listing candidates are relatively mature — Klarna is already 20 years old — and have shown at least a path to profitability, if not regular cash generation.