After 20 years at the helm, Klarna CEO Sebastian Siemiatkowski faces his biggest test yet: A U.S. IPO

He recounted past challenges and his dedication to the company, saying, "I've always been crazy enough to believe in Klarna's potential. I am proud of what we have achieved so far, and I am looking forward to the next exciting chapter of our journey."

In the lead up to what would be one of the biggest fintech IPOs in history, investors will be scrutinizing Siemiatkowski's track record and the company's financial performance closely.

Klarna has managed to carve out a significant chunk of the global payments industry, with more than 90 million active users and 250,000 retail partners in 17 countries. The company's revenues have grown impressively over the years, reaching $1.2 billion in 2021.

However, the firm has faced mounting losses. In 2021, Klarna posted a net loss of $539 million, despite revenue growth. This has raised concerns among investors about the sustainability of its business model, especially given the fierce competition in the 'buy now, pay later' market.

Despite these challenges, Siemiatkowski remains undeterred. "Every step of the journey has been a learning curve," he said. "We are always looking for ways to improve and innovate. We are not afraid of competition."

As Klarna prepares to go public in the U.S., Siemiatkowski and his team will have to convince investors that despite the intense competition and mounting losses, the company has a sustainable path to profitability.

The upcoming U.S. IPO is not just a significant milestone for Klarna, but also for Siemiatkowski. After two decades of steering the company through the unpredictable waters of the fintech industry, the Swedish entrepreneur is facing his biggest test yet.

His performance during this crucial moment will not only determine the future trajectory of Klarna, but also cement Siemiatkowski's legacy as one of the most significant figures in the global fintech landscape.