European Fintech Leader on US Listing Valuation for Sifted

Last week, news dropped that [url=https://email.sifted.eu/e3t/Ctc/LZ+113/d2mfCN04/VVPyY76wJh00W18FHsl4N4fZ4W8BHpjy5JPV2GM7WCRq3qgz0W7lCdLW6lZ3kNN858x1hllzRXW8S7Bln6CtfDJW4Cbydx54nL70N7PD29SmTCvPW4nfzdr5ZMpnnW8bbhWN8jfMK0W34rW7H43Lz5LN4jQb08-F1tfW34WVhd95dq_LW1StyZR2l3JkKW6t9KJz3gyHD-VnnY-s31hB9rW557LPf8x1BtVW6WH9t782_TN1W9gpjlV5vkwhfW3nPDqN41Xd9QW2QR8SK5HYQVtW7FqDfq2YXJH5W4KpNwp3H4dPkW5shLLB1yPT99W5QK72H4p39-ZW882JwF1xpWCJW4_w0ct3XVftRW6wjvsk8_t0j2f6rl4P-04]Paris-based Ledger was prepping for an IPO[/url] in the US that could value the crypto walletmaker at more than $4bn. If the listing goes ahead, it would be one of the first VC-backed European crypto companies to IPO. The $4bn price tag is far more conservative than the valuations secured by US-based crypto scaleups at IPO in recent months. This has got me thinking about whether Ledger’s origin as a European company has been a problem. When Klarna was planning an IPO, some analysts told me its more conservative price tag was due to being thought of as a non-US company. Like Klarna, Ledger is one of the rare European fintechs that has seen traction in the US, selling devices at BestBuy and growing its US team. What do you think, reader? Do European companies face valuation headwinds when opting to list abroad in the US? Or are US stock exchanges the most appropriate listing venue for European scaleups hoping to fetch billion dollar valuations? [url=mailto:[email redacted]]Let me know over email.[/url]