It’s been a long road for the 20-year-old fintech Klarna to make it to an IPO . But on Wednesday, the company successfully landed on the New York Stock Exchange, having raised $1.4 billion , largely for its existing investors, rather than itself.

The fintech giant sold shares at $40, above its announced range of $35 to $37, and came out of the gate with a $15 billion valuation. Shares popped, opening at $52, though quickly settling down to around $46 mid-day.

Of the 34.3 million shares Klarna sold, only 5 million were sold by the company, it said . The rest were sold by existing investors like the company’s largest shareholder Sequoia Capital. Entities controlled by Dutch billionaire Anders Holch Povlsen, Silver Lake, BlackRock, and many others sold as well. Despite cashing out som

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