Market volatility is making the chief executive of fintech firm Klarna “nervous” about pushing the Swedish buy-now-pay-later giant towards an IPO.

“The volatility in the market right now makes me nervous to IPO right now to be honest,” said Sebastian Siemiatkowski, adding that Klarna has given stock to all 4,000 of its employees. “I think it would be nice to IPO when it’s a little more sound and it doesn’t feel very sound right now.”

“It’s not my goal, I don’t want to go to the market and exit. I want to do this for a long period of time, I want to be part of transforming this industry into something better,” he told CNBC at London Tech Week. “It’s not a target.”

Klarna, which was valued at $31bn earlier this year, is one of the leaders in the white-hot easy-terms credit market.

His comments come as the City seeks to be more attractive to companies looking to IPO, with a flurry of new regulatory proposals under review.

Deliveroo, the food delivery company, weathered a difficult London IPO in March after its shares flopped 30% in its debut, raising questions about the capitals ambitions as a listings hub.

“I would love for retail investors who believe in us and like what we do to be able to participate in the value creation that we have… because currently we only have private investors,” Siemiatkowski said, explaining that the company has no immediate plans to IPO.

READ Monzo launches buy now, pay later product in Klarna rivalry

Other technology startup floats in the City since Deliveroo’s listing have been relatively successful, including cross-border payments fintech Wise and cybersecurity firm Darktrace.

When asked if he would choose London for a possible future float, Siemiatkowski said he liked the “amount of expertise” and the “quality of the regulators” but questioned if there are enough investors in the local market that understand his type of company.

“I don’t think what happened to Deliveroo is entirely fair… maybe it would have fared better in the US,” Siemiatkowski said.

To contact the author of this story with feedback or news, email Bérengère Sim

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