Swedish fintech firm Klarna will be the exclusive provider of buy now, pay later loans for Walmart, taking a coveted partnership away from rival Affirm, CNBC has learned.

On the heels of its IPO filing, Swedish fintech giant Klarna announced on Monday that it will exclusively provide buy now, pay later loans for Walmart.The

STOCKHOLM—Klarna said it will become the exclusive buy-now-pay-later provider at Walmart in the U.S., replacing rival Affirm as the Swedish fintech company nears a potential initial public offering.Stockholm-based Klarna said Monday that it will work with Walmart-backed consumer finance app OnePay to offer customers installment loans on purchases at the retailer.