Klarna’s IPO: Here’s Who’s Getting Prosperous

Enterprise capital giant Sequoia Capital is the most attention-grabbing benefactor of Klarna’s IPO. The San Francisco-essentially essentially based totally 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 rather about a rounds in the next years.

Used Sequoia accomplice Michael Moritz joined Klarna’s board of directors at the firm’s 2010 funding and modified into the chairperson of the board in 2020.

When Moritz stepped down from his investing map in 2023, Sequoia accomplice Matthew Morris joined Klarna’s board to explain the firm. The next year, Morris, with Sequoia’s backing, reportedly tried to remove Moritz from the board altogether. After facing pushback from Klarna CEO Sebastian Siemiatkowski, Morris withdrew the strive and stepped down from the board. Sequoia accomplice Andrew Reed took his map. Moritz remains Klarna’s chairperson as of late.

“It’s fabulous what an iron-willed CEO like (Sebastian Siemiatkowski), an enduring cost prop, a personnel of appropriate believers, and twenty years of regular (ish?) compounding can invent,” Reed posted on X Wednesday morning.

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

Sequoia equipped 2.14 million shares in Klarna’s IPO, which at its $40-per-piece IPO designate netted the firm $85.6 million.

At a $forty five.82 closing piece designate, Sequoia’s closing stake is charge 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 because the firm’s CFO except 2012, when he left.

Jacobsson and Siemiatkowski, Klarna’s CEO and the most easy cofounder who remains an executive at the firm, have reportedly clashed in non-public for years over key governance decisions at Klarna, like how and when the firm ought to bound public.

Jacobsson has accrued a gargantuan stake in Klarna through the years, including by procuring for up shares in secondary markets by map of rather about a maintaining companies, the Monetary Cases beforehand reported.

Between July 2022 and March 2023, Jacobsson sold almost about 4 million shares of Klarna for an entire of $73 million across four assorted maintaining companies, per Klarna’s IPO submitting.

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

At a $forty five.82 piece designate, Jacobsson’s closing stake is charge about $1.38 billion.

Heartland A/S, the funding maintaining 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 map of Brightfolk A/S, one other of Holch Povlsen’s maintaining companies. That funding included shares sold from existing Klarna investors similar to non-public equity firm Total Atlantic and cofounder Niklas Adalberth.

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

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

At a $forty five.82 piece designate, Heartland’s closing stake is charge 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, while he used to be getting his master’s degree at the Stockholm College of Economics. The firm, at the start named Kreditor and rebranded to Klarna in 2010, sought to enable customers to pay for their purchases after transport.

Siemiatkowski used to be estimated to be a billionaire in early 2022, along with his accumulate charge peaking at roughly $3.2 billion after Klarna raised a funding round the previous year at a $forty five.6 billion valuation. The firm’s fundraise in July 2022, nevertheless, valued Klarna at $6.7 billion, knocking Siemiatkowski off the billionaire pedestal.

Klarna paid $16.5 million to nonprofits founded by Siemiatkowski’s accomplice, including by map of donations and partnerships, over the final 5 years, BI reported final week.

Siemiatkowski purchased a further 3.06 million shares of Klarna for $56 million between July 2022 and March 2023. He’s the most easy major shareholder on this checklist who didn’t promote any of his shares in Klarna’s IPO.

At a $forty five.82 designate, his stake is now charge 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 most valuable bank in Australia by full assets, first invested $100 million in Klarna in 2019. It’s also backed Anthropic, announcing an funding in the AI startup giant in March.

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

As phase of its investments in Klarna, CBA purchased 50-50 possession rights with Klarna to Klarna’s Australian and Fresh Zealand alternate.

CBA sold a further 1.8 million shares in Klarna between July 2022 and March 2023, per Klarna’s IPO submitting, for an aggregate designate of $32 million.

CBA equipped about 1.9 million shares in Klarna’s IPO, which at the $40-per-piece IPO designate would’ve introduced in $77.4 million.

At a $forty five.82 piece designate, its closing stake is charge 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-essentially essentially based totally firm’s other tech bets encompass fintech darling Stripe, alternate-administration instrument 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 equipped about 2.6 million shares in Klarna’s IPO, netting it $102 million at a $40 IPO piece designate.

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

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

The fund manages Singapore’s foreign reserves in extra than 40 worldwide locations. 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 equipped about 1.2 million shares in Klarna’s IPO, netting it $46.9 million at a $40 IPO piece designate.

At a $forty five.82 piece designate, GIC’s closing stake is charge about $236 million.

San Francisco-essentially essentially based totally funding 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 assets, essentially making investments in public companies including Roblox, Flutter Entertainment, and SailPoint.

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

“From the outset, we believed that their imaginative and prescient of purchase-now-pay-later gives a less pricey, friendlier more than a few to credit playing cards. Klarna has confirmed that by welcoming over 110 million energetic customers to its platform,” acknowledged Justin Nyweide, founding accomplice and CIO of HMI Capital, in a statement to BI. “We namely want 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 accomplice with them and can’t sit down up for Klarna to address the great boost opportunity in front of them.”

HMI Capital equipped 1.1 million shares in Klarna’s IPO, which at a $40-per-piece IPO designate would’ve introduced in $44.5 million.

At a $forty five.82 piece designate, its closing stake is charge about $204 million.

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

BlackRock has invested an entire bunch of billions of dollars in Gigantic Tech giants including Nvidia, Microsoft, and Apple. It’s also 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 equipped about 1.7 million shares in Klarna’s IPO. At a $40 IPO piece designate, that sale would’ve netted the firm $68.5 million.

At a $forty five.82 piece designate, BlackRock’s closing stake is charge 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 more than a few funding unit within UBS Asset Administration. Per Klarna’s IPO submitting, its Klarna funding is held in the Nineteen77 funds that UBS manages.

It’s undecided 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 May maybe perchance, UBS acknowledged it would promote its O’Connor unit, which had roughly $11 billion beneath administration at the time, to Cantor Fitzgerald.

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

UBS O’Connor equipped about 1.3 million shares in Klarna’s IPO, which, at a $40-per-piece designate, would have introduced in about $52.3 million.

At a $forty five.82 piece designate, its closing stake is charge 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 companies in the United Arab Emirates and out of the country on behalf of the manager of Abu Dhabi. It’s backed a series of top non-public companies, including OpenAI, Anthropic, Databricks, and healthcare IPO hopeful Zelis Healthcare.

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

Mubadala equipped 2.3 million shares in Klarna’s IPO, representing about 43% of its holdings. At a $40-per-piece IPO designate, that sale would accumulate the firm about $93.8 million.

At a $forty five.82 piece designate, its closing stake is charge $141 million.

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

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

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

At Klarna’s $forty five.82 closing piece designate, Skandia’s closing stake is charge 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 non-public funding firm.

Adalberth frequent to have about 8% of Klarna. But after Adalberth stepped down as Klarna’s deputy CEO and left the firm in 2015, he equipped all however .75% of his stake to fund his philanthropy and impact investing.

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

Adalberth equipped about 273,000 shares in Klarna’s IPO, netting him about $11.7 million at a $40 piece designate.

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

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

Started in 2006 by Skype cofounder Niklas Zennström, Atomico has backed some VC heavy-hitters, including fintech giant Stripe and bodily remedy firm Hinge Health, which went public earlier this year.

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

“Over 13 years of partnership with Sebastian and his personnel, we’ve considered financial downturns, market turbulence, and inflationary pressures, yet Klarna’s alternate model has repeatedly confirmed remarkably resilient,” Zennström acknowledged in a statement to BI. “That skill to scale faster while working leaner is unparalleled, and it’s a model more companies and founders across Europe will look to emulate.”

Atomico equipped appropriate over 1,000,000 shares of Klarna in its IPO. At a $40-per-piece IPO designate, that sale netted Atomico $41.5 million.

At a $forty five.82 piece designate, Atomico’s closing stake is charge about $118 million.

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

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

SEB’s pension funds also contributed hundreds and hundreds of dollars to Norrsken VC, Adalberth’s impact fund, in 2020 and 2021.

SEB told BI that its stake in Klarna, as listed in the firm’s IPO submitting, is “saved in custody on behalf of consumers.” The bank declined to commentary extra.

SEB equipped about 23,000 shares in Klarna’s IPO, which at the $40-per-piece IPO designate would accumulate the firm about $937,000.

At a $forty five.82 closing piece designate, SEB’s closing piece is charge about $110 million.