Klarna’s IPO: Here’s Who’s Getting Properly off

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

Sequoia first invested in Klarna in 2010, main the company’s $9 million fundraise and contributing additional capital over diversified rounds within the next years.

Used Sequoia accomplice Michael Moritz joined Klarna’s board of administrators at the firm’s 2010 investment and grew to change into the chairperson of the board in 2020.

When Moritz stepped down from his investing location in 2023, Sequoia accomplice Matthew Morris joined Klarna’s board to symbolize the firm. The following year, Morris, with Sequoia’s backing, reportedly attempted to rob away Moritz from the board altogether. After going through pushback from Klarna CEO Sebastian Siemiatkowski, Morris withdrew the try and stepped down from the board. Sequoia accomplice Andrew Reed took his location. Moritz stays Klarna’s chairperson as of late.

“It’s unbelievable what an iron-willed CEO take care of (Sebastian Siemiatkowski), a protracted lasting worth prop, a team of ravishing believers, and twenty years of precise (ish?) compounding can function,” Reed posted on X Wednesday morning.

Sequoia sold an additional 7.33 million shares in Klarna between July 2022 and March 2023 for $135 million, per Klarna’s IPO submitting.

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

At a $forty five.82 closing portion worth, Sequoia’s closing stake is worth about $3.5 billion.

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

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

Jacobsson and Siemiatkowski, Klarna’s CEO and the one cofounder who stays an govt at the company, own reportedly clashed in deepest for years over key governance choices at Klarna, take care of how and when the company may perhaps well gentle run public.

Jacobsson has gathered a huge stake in Klarna over the years, along with by wanting for up shares in secondary markets through diversified preserving corporations, the Monetary Cases beforehand reported.

Between July 2022 and March 2023, Jacobsson sold almost about 4 million shares of Klarna for a total of $73 million correct through four numerous preserving corporations, per Klarna’s IPO submitting.

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

At a $forty five.82 portion worth, Jacobsson’s closing stake is worth about $1.38 billion.

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

Heartland first invested in Klarna in 2017 through Brightfolk A/S, one other of Holch Povlsen’s preserving corporations. That investment incorporated shares sold from existing Klarna merchants similar to deepest equity firm Standard Atlantic and cofounder Niklas Adalberth.

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

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

At a $forty five.82 portion worth, Heartland’s closing stake is worth 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 began building Klarna alongside his cofounders at age 23, whereas he change into as soon as getting his master’s degree at the Stockholm College of Economics. The company, initially named Kreditor and rebranded to Klarna in 2010, sought to enable potentialities to pay for their purchases after shipping.

Siemiatkowski change into as soon as estimated to be a billionaire in early 2022, with his catch worth peaking at roughly $3.2 billion after Klarna raised a funding round the earlier year at a $forty five.6 billion valuation. The company’s fundraise in July 2022, then again, valued Klarna at $6.7 billion, knocking Siemiatkowski off the billionaire pedestal.

Klarna paid $16.5 million to nonprofits founded by Siemiatkowski’s important other, along with through donations and partnerships, during the last five years, BI reported last week.

Siemiatkowski bought an additional 3.06 million shares of Klarna for $56 million between July 2022 and March 2023. He’s the one foremost shareholder on this list who didn’t sell any of his shares in Klarna’s IPO.

At a $forty five.82 worth, his stake is now worth about $1.17 billion.

The Commonwealth Monetary institution of Australia owned about 19.3 million shares of Klarna, or about 4.6% of the company after its IPO.

CBA, the finest monetary institution in Australia by total assets, first invested $100 million in Klarna in 2019. It’s also backed Anthropic, asserting an investment within the AI startup huge in March.

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

As part of its investments in Klarna, CBA obtained 50-50 ownership rights with Klarna to Klarna’s Australian and New Zealand commercial.

CBA sold an additional 1.8 million shares in Klarna between July 2022 and March 2023, per Klarna’s IPO submitting, for an combination worth of $32 million.

CBA offered about 1.9 million shares in Klarna’s IPO, which at the $40-per-portion IPO worth would’ve introduced in $77.4 million.

At a $forty five.82 portion worth, its closing stake is worth about $798 million.

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

The Silicon Valley-basically basically based mostly firm’s other tech bets encompass fintech darling Stripe, commercial-management system company Airtable, and weight-care app Noom.

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

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

At $forty five.82 a portion, Silver Lake’s closing stake is worth about $663 million.

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

The fund manages Singapore’s international reserves in extra than 40 countries. It’s also 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 offered about 1.2 million shares in Klarna’s IPO, netting it $46.9 million at a $40 IPO portion worth.

At a $forty five.82 portion worth, GIC’s closing stake is worth about $236 million.

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

HMI Capital manages about $3.22 billion in assets, basically making investments in public corporations along with Roblox, Flutter Entertainment, and SailPoint.

The firm first invested in Klarna in 2019, contributing to its $460 million fundraise. HMI Capital assign extra cash into the company in its 2020, 2021, and 2022 raises.

“From the outset, we believed that their imaginative and prescient of buy-now-pay-later offers a more inexpensive, friendlier replacement to credit rating cards. Klarna has proven that by welcoming over 110 million intriguing shoppers to its platform,” acknowledged Justin Nyweide, founding accomplice and CIO of HMI Capital, in a statement to BI. “We seriously must congratulate CEO Sebastian Siemiatkowski, Chairperson Michael Moritz and CFO Niclas Neglén for successfully bringing Klarna to market in a turbulent time. We’re proud to accomplice with them and can’t await Klarna to style out the enormous whisper replacement in entrance of them.”

HMI Capital offered 1.1 million shares in Klarna’s IPO, which at a $40-per-portion IPO worth would’ve introduced in $44.5 million.

At a $forty five.82 portion worth, its closing stake is worth about $204 million.

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

BlackRock has invested quite a lot of of billions of greenbacks in Mountainous Tech giants along with Nvidia, Microsoft, and Apple. It’s also backed AI records 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 placing more capital into the company in its 2020 and 2021 raises.

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

At a $forty five.82 portion worth, BlackRock’s closing stake is worth about $194 million.

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

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

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

In May well well perhaps, UBS acknowledged it may perhaps maybe most likely most likely well sell its O’Connor unit, which had roughly $11 billion below management at the time, to Cantor Fitzgerald.

That acquisition hasn’t yet closed. UBS and Cantor Fitzgerald declined to verify whether or no longer O’Connor’s stake in Klarna will be assumed by Cantor Fitzgerald when the deal closes.

UBS O’Connor offered about 1.3 million shares in Klarna’s IPO, which, at a $40-per-portion worth, would own introduced in about $52.3 million.

At a $forty five.82 portion worth, its closing stake is worth about $148 million.

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

Mubadala invests in corporations within the United Arab Emirates and international on behalf of the federal government of Abu Dhabi. It’s backed a assortment of top deepest corporations, along with OpenAI, Anthropic, Databricks, and healthcare IPO hopeful Zelis Healthcare.

Mubadala invested in Klarna in 2022 as part of the company’s $800 million fundraise.

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

At a $forty five.82 portion worth, its closing stake is worth $141 million.

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

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

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

At Klarna’s $forty five.82 closing portion worth, Skandia’s closing stake is worth about $135 million.

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

Adalberth extinct to luxuriate in about 8% of Klarna. But after Adalberth stepped down as Klarna’s deputy CEO and left the company in 2015, he offered all however .75% of his stake to fund his philanthropy and impression investing.

Adalberth urged BI in 2021 that he left Klarna after reevaluating his priorities, along with his feelings toward wealth and consumption.

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

At $forty five.82 a portion, Adalberth’s closing stake is worth $121 million.

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

Started in 2006 by Skype cofounder Niklas Zennström, Atomico has backed some VC heavy-hitters, along with fintech huge Stripe and bodily treatment company Hinge Properly being, which went public earlier this year.

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

“Over 13 years of partnership with Sebastian and his team, we’ve seen economic downturns, market turbulence, and inflationary pressures, yet Klarna’s commercial mannequin has continuously proven remarkably resilient,” Zennström acknowledged in a statement to BI. “That skill to scale sooner whereas working leaner is unparalleled, and it’s a mannequin more corporations and founders correct through Europe will search to emulate.”

Atomico offered correct over a million shares of Klarna in its IPO. At a $40-per-portion IPO worth, that sale netted Atomico $41.5 million.

At a $forty five.82 portion worth, Atomico’s closing stake is worth about $118 million.

SEB, quick for Skandinaviska Enskilda Banken, is a Stockholm-basically basically based mostly monetary institution. SEB owned about 2.4 million shares of Klarna, or roughly .6% of the company after its IPO.

SEB began working with Klarna in 2012, when Klarna partnered with SEB on its Klarna Checkout platform for retailers. (Klarna offered Klarna Checkout in 2024.)

SEB’s pension funds also contributed tens of millions of greenbacks to Norrsken VC, Adalberth’s impression fund, in 2020 and 2021.

SEB urged BI that its stake in Klarna, as listed within the company’s IPO submitting, is “kept in custody on behalf of purchasers.” The monetary institution declined to mumble additional.

SEB offered about 23,000 shares in Klarna’s IPO, which at the $40-per-portion IPO worth would catch the firm about $937,000.

At a $forty five.82 closing portion worth, SEB’s closing portion is worth about $110 million.