Klarna, the buy-now-pay-later credit platform, is pushing forward with its ambition to transform into a regulated bank on US soil, and as part of a sweeping leadership overhaul, the company is now searching for a new chief financial officer based in New York. Klarna Group plc, which trades on the US stock exchange, announced on Tuesday that its current CFO Niclas Negle and chief marketing officer David Sandström will step down from their roles early next year.

The company, founded in Sweden by CEO Sebastian Siemiatkowski, rose to prominence with its credit products that allow customers to split their debt into interest-free short-term installments, fueling a rapid expansion of its business. Klarna is now pivoting its business model toward a more traditional banking approach, with plans to introduce savings accounts and conventional interest-bearing loan products. This strategic shift comes as Klarna's share price has been cut in half since its debut on the New York Stock Exchange last September.

Klarna submitted its application for a US banking license in July, filing with the Utah Department of Financial Institutions and the Federal Deposit Insurance Corporation. The company already holds banking regulatory status in Europe, while the United States stands as its most critical growth market. Siemiatkowski noted that both departing executives "helped shape the Klarna of today," adding that Negle "built the financial systems that took the company to IPO and has been a trusted partner to me and the board through six years of growth and transformation."

The personnel announcement arrives alongside Klarna's second consecutive profitable quarter, with net income of $9 million compared to a net loss of $53 million in the same period last year. Revenue climbed 27% year-over-year to roughly $1 billion.