Professor Glenn A. Okun
The Rabid Capitalist: The Big Point is a summary of a detailed note available to paid subscribers.
Klarna, one of the largest BNPL providers, has been preparing to go public. Their latest step has been to shop their U.S. BNPL portfolio after selling their U.K. portfolio. These actions have been characterized by the press as an effort to free up capital for growth. The Rabid Capitalist suspects that these transactions have been intended to clean up its balance sheet, eliminating any trace of its business that would draw the criticism and concern of prospective investors in its initial public offering (“IPO”).
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