Fintech firm Klarna Group has filed its prospectus for a U.S. initial public offering, moving ahead with plans to list even as recession fears rattle the stock market.

"The latest spike in volatility has dimmed the IPO prospects for a number of companies, but that has not completely shut down the market for new listings," said Matt Kennedy, senior strategist at Renaissance Capital, a provider of IPO-focused research and ETFs.

The Swedish institution is best known in the U.S. for its buy/now pay later lending. Its New York listing will be a bellwether for the payments technology industry, which is recovering from a post-pan