Swedish fintech company Klarna is preparing for a possible London initial public offering as early as this year, according to people familiar with the discussions. The move would come after the payments firm secured fresh funding that reportedly values the company at about $50 billion.

If Klarna proceeds, a London listing would mark a major step for one of Europe’s best-known buy-now, pay-later brands. The company has long been seen as a bellwether for fintech market sentiment, especially as investors look for signs that public markets are reopening to high-growth technology firms.

The latest valuation reflects renewed confidence in the company’s business model after a volatile period for the sector. But any listing plan remains subject to market conditions, timing, and regulatory approvals, and the company has not publicly confirmed a launch date.

A successful IPO would also be a notable win for London’s exchange, which has faced competition from U.S. markets in attracting major tech listings. For now, Klarna’s next move remains under watch as investors gauge whether the strong private-market valuation can translate into public-market demand.