Klarna’s IPO: Right here’s Who’s Getting Rich

Venture capital huge Sequoia Capital is the supreme benefactor of Klarna’s IPO. The San Francisco-based firm Sequoia owned 78.8 million shares, or about 20.1% of the firm, after its IPO.

Sequoia first invested in Klarna in 2010, leading the firm’s $9 million fundraise and contributing extra capital over quite about a rounds in the following years.

Former Sequoia partner Michael Moritz joined Klarna’s board of directors at the firm’s 2010 investment and grew to alter into the chairperson of the board in 2020.

When Moritz stepped down from his investing pickle in 2023, Sequoia partner Matthew Morris joined Klarna’s board to indicate the firm. The following year, Morris, with Sequoia’s backing, reportedly attempted to take away Moritz from the board altogether. After going through pushback from Klarna CEO Sebastian Siemiatkowski, Morris withdrew the are attempting and stepped down from the board. Sequoia partner Andrew Reed took his pickle. Moritz remains Klarna’s chairperson right this moment.

“It’s unbelievable what an iron-willed CEO take care of (Sebastian Siemiatkowski), an enduring mark prop, a crew of gorgeous believers, and two decades of true (ish?) compounding can assemble,” Reed posted on X Wednesday morning.

Sequoia bought an further 7.33 million shares in Klarna between July 2022 and March 2023 for $135 million, in line with Klarna’s IPO submitting.

Sequoia sold 2.14 million shares in Klarna’s IPO, which at its $40-per-portion IPO mark netted the firm $85.6 million.

At a $45.82 closing portion mark, Sequoia’s closing stake is price about $3.5 billion.

Klarna cofounder Victor Jacobsson owned about 30 million shares of Klarna, or 8% of the firm after its IPO.

Jacobsson founded Klarna in 2005 alongside Sebastian Siemiatkowski and Niklas Adalberth. He served as the firm’s CFO unless 2012, when he left.

Jacobsson and Siemiatkowski, Klarna’s CEO and the supreme cofounder who remains an executive at the firm, bear reportedly clashed in private for years over key governance choices at Klarna, take care of how and when the firm ought to soundless traipse public.

Jacobsson has gathered a giant stake in Klarna over the years, including by looking out out for up shares in secondary markets through hundreds of defending corporations, the Monetary Times beforehand reported.

Between July 2022 and March 2023, Jacobsson bought almost 4 million shares of Klarna for a entire of $73 million across four hundreds of defending corporations, per Klarna’s IPO submitting.

Jacobsson sold about 1.3 million shares in Klarna’s IPO, which at a $40-per-portion IPO mark would’ve netted him about $52.1 million.

At a $45.82 portion mark, Jacobsson’s closing stake is price about $1.38 billion.

Heartland A/S, the investment defending firm owned by Danish billionaire Anders Holch Povlsen, owned about 37.1 million shares of Klarna, or about 7.8% of the firm after its IPO.

Heartland first invested in Klarna in 2017 by project of Brightfolk A/S, one more of Holch Povlsen’s defending corporations. That investment incorporated shares bought from existing Klarna traders just like private equity firm Overall Atlantic and cofounder Niklas Adalberth.

Heartland CEO Lise Kaae sits on Klara’s board of directors.

The firm sold about 7.4 million shares in Klarna’s IPO, or about 20% of its stake. At a $40-per-portion IPO mark, that sale brought in about $297 million.

At a $45.82 portion mark, Heartland’s closing stake is price about $1.36 billion.

Sebastian Siemiatkowski, Klarna’s CEO and cofounder, owned 25.6 million shares of Klarna, or about 6.8% after its IPO.

Siemiatkowski started constructing Klarna alongside his cofounders at age 23, whereas he used to be getting his grasp’s level at the Stockholm College of Economics. The firm, in the foundation named Kreditor and rebranded to Klarna in 2010, sought to enable potentialities to pay for their purchases after transport.

Siemiatkowski used to be estimated to be a billionaire in early 2022, alongside with his gain price peaking at roughly $3.2 billion after Klarna raised a funding round the old year at a $45.6 billion valuation. The firm’s fundraise in July 2022, on the opposite hand, valued Klarna at $6.7 billion, knocking Siemiatkowski off the billionaire pedestal.

Klarna paid $16.5 million to nonprofits founded by Siemiatkowski’s wife, including through donations and partnerships, over the closing 5 years, BI reported closing week.

Siemiatkowski bought an further 3.06 million shares of Klarna for $56 million between July 2022 and March 2023. He’s the supreme predominant shareholder on this listing who didn’t promote any of his shares in Klarna’s IPO.

At a $45.82 mark, his stake is now price about $1.17 billion.

The Commonwealth Bank of Australia owned about 19.3 million shares of Klarna, or about 4.6% of the firm after its IPO.

CBA, the supreme bank in Australia by entire sources, first invested $100 million in Klarna in 2019. It’s additionally backed Anthropic, asserting an investment in the AI startup huge in March.

CBA invested an further $200 million in Klarna in 2020, bringing its stake to 5.5%.

As allotment of its investments in Klarna, CBA received 50-50 ownership rights with Klarna to Klarna’s Australian and Contemporary Zealand exchange.

CBA bought an further 1.8 million shares in Klarna between July 2022 and March 2023, in line with Klarna’s IPO submitting, for an aggregate mark of $32 million.

CBA sold about 1.9 million shares in Klarna’s IPO, which at the $40-per-portion IPO mark would’ve brought in $77.4 million.

At a $45.82 portion mark, its closing stake is price about $798 million.

Non-public equity firm Silver Lake owned 17 million shares of Klarna, or about 3.8% of the firm after its IPO.

The Silicon Valley-based firm’s hundreds of tech bets consist of fintech darling Stripe, exchange-management scheme firm Airtable, and weight-care app Noom.

Silver Lake led Klarna’s $650 million fundraise in 2020, which valued the firm at $10.6 billion.

The firm sold about 2.6 million shares in Klarna’s IPO, netting it $102 million at a $40 IPO portion mark.

At $45.82 a portion, Silver Lake’s closing stake is price about $663 million.

Singaporean sovereign wealth fund GIC Non-public Exiguous owned about 6.3 million shares of Klarna, or about 1.4% after its IPO.

The fund manages Singapore’s international reserves in higher than 40 international locations. It’s additionally invested in Anthropic, contributing to its September $13 billion Series F fundraise at an $183 billion valuation.

GIC invested in Klarna’s $650 million round in 2020 at a $10.6 billion valuation.

The fund sold about 1.2 million shares in Klarna’s IPO, netting it $46.9 million at a $40 IPO portion mark.

At a $45.82 portion mark, GIC’s closing stake is price about $236 million.

San Francisco-based investment firm HMI Capital owned about 5.6 million shares in Klarna, or about 1.2% of the firm after its IPO.

HMI Capital manages about $3.22 billion in sources, primarily making investments in public corporations including Roblox, Flutter Entertainment, and SailPoint.

The firm first invested in Klarna in 2019, contributing to its $460 million fundraise. HMI Capital keep apart more money into the firm in its 2020, 2021, and 2022 raises.

“From the outset, we believed that their vision of aquire-now-pay-later affords a more cost effective, friendlier different to credit cards. Klarna has confirmed that by welcoming over 110 million vigorous consumers to its platform,” said Justin Nyweide, founding partner and CIO of HMI Capital, in an announcement to BI. “We particularly wish to congratulate CEO Sebastian Siemiatkowski, Chairperson Michael Moritz and CFO Niclas Neglén for efficiently bringing Klarna to market in a turbulent time. We are proud to partner with them and would possibly maybe’t wait for Klarna to tackle the spacious growth opportunity in entrance of them.”

HMI Capital sold 1.1 million shares in Klarna’s IPO, which at a $40-per-portion IPO mark would’ve brought in $44.5 million.

At a $45.82 portion mark, its closing stake is price about $204 million.

BlackRock owned almost 6 million shares of Klarna, or about 1.1% of the firm after its IPO.

BlackRock has invested loads of of billions of bucks in Mountainous Tech giants including Nvidia, Microsoft, and Apple. It’s additionally backed AI files processing startup Databricks, which announced a $1 billion fundraise this week at a $100 billion valuation.

The firm first invested in Klarna in 2019, contributing to its $460 million fundraise, and striking more capital into the firm in its 2020 and 2021 raises.

BlackRock sold about 1.7 million shares in Klarna’s IPO. At a $40 IPO portion mark, that sale would’ve netted the firm $68.5 million.

At a $45.82 portion mark, BlackRock’s closing stake is price about $194 million.

UBS O’Connor owned about 4.5 million shares in Klarna, or about .9% of the firm after its IPO.

UBS O’Connor is an different investment unit inside of UBS Asset Administration. Per Klarna’s IPO submitting, its Klarna investment is held in the Nineteen77 funds that UBS manages.

It’s no longer obvious when UBS O’Connor first invested in Klarna. The fund did take part in Klarna’s $800 million Series H fundraise in 2022, per UBS.

In Might per chance presumably presumably additionally, UBS said it would promote its O’Connor unit, which had roughly $11 billion below management at the time, to Cantor Fitzgerald.

That acquisition hasn’t but closed. UBS and Cantor Fitzgerald declined to verify whether O’Connor’s stake in Klarna would per chance be assumed by Cantor Fitzgerald when the deal closes.

UBS O’Connor sold about 1.3 million shares in Klarna’s IPO, which, at a $40-per-portion mark, would bear brought in about $52.3 million.

At a $45.82 portion mark, its closing stake is price about $148 million.

Sovereign wealth fund Mubadala Funding Company owned about 5.4 million shares of Klarna, or about .8% of the firm after its IPO.

Mubadala invests in corporations in the United Arab Emirates and abroad on behalf of the authorities of Abu Dhabi. It’s backed quite about a high private corporations, including OpenAI, Anthropic, Databricks, and healthcare IPO hopeful Zelis Healthcare.

Mubadala invested in Klarna in 2022 as allotment of the firm’s $800 million fundraise.

Mubadala sold 2.3 million shares in Klarna’s IPO, representing about 43% of its holdings. At a $40-per-portion IPO mark, that sale would gain the firm about $93.8 million.

At a $45.82 portion mark, its closing stake is price $141 million.

Skandia owned about 4.1 million shares of Klarna, or about .8% of the firm after its IPO.

The Swedish insurance and monetary products and companies firm first invested in Klarna in 2015, when it bought a roughly 1% stake.

Skandia sold about 1.2 million shares in Klarna’s IPO, representing almost 30% of its stake in the firm. At a $40-per-portion IPO mark, that sale netted Skandia about $47.7 million.

At Klarna’s $45.82 closing portion mark, Skandia’s closing stake is price about $135 million.

Niklas Adalberth, Klarna’s third cofounder, owned about 2.9 million shares of Klarna, or about .7% of the firm after its IPO. That’s the sum of shares held by Adalberth himself and by Sunnersta Invest AB, Adalberth’s private investment firm.

Adalberth broken-all the formulation down to private about 8% of Klarna. Nonetheless after Adalberth stepped down as Klarna’s deputy CEO and left the firm in 2015, he sold all but .75% of his stake to fund his philanthropy and affect investing.

Adalberth suggested BI in 2021 that he left Klarna after reevaluating his priorities, including his emotions toward wealth and consumption.

Adalberth sold about 273,000 shares in Klarna’s IPO, netting him about $11.7 million at a $40 portion mark.

At $45.82 a portion, Adalberth’s closing stake is price $121 million.

London-based project firm Atomico owned about 3.6 million shares of Klarna, or almost .7% of the firm after its IPO.

Started in 2006 by Skype cofounder Niklas Zennström, Atomico has backed some VC heavy-hitters, including fintech huge Stripe and physical therapy firm Hinge Well being, which went public earlier this year.

Atomico first invested in Klarna in 2012, looking out out for shares from an existing investor in a secondary sale price $14 million.

“Over 13 years of partnership with Sebastian and his crew, we’ve seen financial downturns, market turbulence, and inflationary pressures, but Klarna’s exchange model has constantly confirmed remarkably resilient,” Zennström said in an announcement to BI. “That ability to scale faster whereas running leaner is unparalleled, and it’s a model more corporations and founders across Europe will seek to emulate.”

Atomico sold just true over 1,000,000 shares of Klarna in its IPO. At a $40-per-portion IPO mark, that sale netted Atomico $41.5 million.

At a $45.82 portion mark, Atomico’s closing stake is price about $118 million.

SEB, short for Skandinaviska Enskilda Banken, is a Stockholm-based bank. SEB owned about 2.4 million shares of Klarna, or roughly .6% of the firm after its IPO.

SEB started working with Klarna in 2012, when Klarna partnered with SEB on its Klarna Checkout platform for merchants. (Klarna sold Klarna Checkout in 2024.)

SEB’s pension funds additionally contributed tens of millions of bucks to Norrsken VC, Adalberth’s affect fund, in 2020 and 2021.

SEB suggested BI that its stake in Klarna, as listed in the firm’s IPO submitting, is “saved in custody on behalf of clients.” The bank declined to comment further.

SEB sold about 23,000 shares in Klarna’s IPO, which at the $40-per-portion IPO mark would gain the firm about $937,000.

At a $45.82 closing portion mark, SEB’s closing portion is price about $110 million.