Klarna’s IPO: Right here’s Who’s Getting Successfully off

Project capital giant Sequoia Capital is the greatest benefactor of Klarna’s IPO. The San Francisco-essentially based company 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 further capital over fairly about a rounds within the next years.

Dilapidated Sequoia partner Michael Moritz joined Klarna’s board of administrators at the company’s 2010 funding and grew to change into the chairperson of the board in 2020.

When Moritz stepped down from his investing discipline in 2023, Sequoia partner Matthew Morris joined Klarna’s board to articulate the company. The following one year, Morris, with Sequoia’s backing, reportedly attempted to rob away Moritz from the board altogether. After going via pushback from Klarna CEO Sebastian Siemiatkowski, Morris withdrew the attempt and stepped down from the board. Sequoia partner Andrew Reed took his discipline. Moritz stays Klarna’s chairperson currently.

“It’s very glorious what an iron-willed CEO like (Sebastian Siemiatkowski), a lasting value prop, a bunch of correct believers, and Twenty years of precise (ish?) compounding can manufacture,” 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 step with Klarna’s IPO submitting.

Sequoia bought 2.14 million shares in Klarna’s IPO, which at its $40-per-part IPO trace netted the company $85.6 million.

At a $Forty five.82 closing part trace, Sequoia’s final stake is value 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 till 2012, when he left.

Jacobsson and Siemiatkowski, Klarna’s CEO and the final discover cofounder who stays an govt at the firm, salvage reportedly clashed in non-public for years over key governance choices at Klarna, like how and when the firm must light bolt public.

Jacobsson has accumulated a substantial stake in Klarna through the years, at the side of by shopping for up shares in secondary markets via assorted holding companies, the Financial Cases beforehand reported.

Between July 2022 and March 2023, Jacobsson bought as regards to 4 million shares of Klarna for a total of $73 million all the draw in which via four assorted holding companies, per Klarna’s IPO submitting.

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

At a $Forty five.82 part trace, Jacobsson’s final stake is value about $1.38 billion.

Heartland A/S, the funding holding 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 via Brightfolk A/S, one other of Holch Povlsen’s holding companies. That funding incorporated shares bought from gift Klarna investors comparable to non-public equity company Frequent Atlantic and cofounder Niklas Adalberth.

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

The company bought about 7.4 million shares in Klarna’s IPO, or about 20% of its stake. At a $40-per-part IPO trace, that sale brought in about $297 million.

At a $Forty five.82 part trace, Heartland’s final stake is value 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 became getting his master’s stage at the Stockholm College of Economics. The firm, before every little thing named Kreditor and rebranded to Klarna in 2010, sought to permit customers to pay for their purchases after delivery.

Siemiatkowski became estimated to be a billionaire in early 2022, along with his rating value peaking at roughly $3.2 billion after Klarna raised a funding spherical the earlier one year at a $Forty five.6 billion valuation. The firm’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 wife, at the side of via donations and partnerships, over the final five years, BI reported final week.

Siemiatkowski bought an further 3.06 million shares of Klarna for $56 million between July 2022 and March 2023. He’s the final discover main shareholder on this record who didn’t sell any of his shares in Klarna’s IPO.

At a $Forty five.82 trace, his stake is now value about $1.17 billion.

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

CBA, the greatest bank in Australia by total sources, first invested $100 million in Klarna in 2019. It’s also backed Anthropic, announcing an funding within the AI startup giant in March.

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

As part of its investments in Klarna, CBA obtained 50-50 possession rights with Klarna to Klarna’s Australian and Fresh Zealand industry.

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

CBA bought about 1.9 million shares in Klarna’s IPO, which at the $40-per-part IPO trace would’ve brought in $77.4 million.

At a $Forty five.82 part trace, its final stake is value about $798 million.

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

The Silicon Valley-essentially based company’s other tech bets comprise fintech darling Stripe, industry-administration tool 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 company bought about 2.6 million shares in Klarna’s IPO, netting it $102 million at a $40 IPO part trace.

At $Forty five.82 a part, Silver Lake’s final stake is value about $663 million.

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

The fund manages Singapore’s foreign reserves in further than 40 nations. It’s also invested in Anthropic, contributing to its September $13 billion Sequence F fundraise at an $183 billion valuation.

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

The fund bought about 1.2 million shares in Klarna’s IPO, netting it $46.9 million at a $40 IPO part trace.

At a $Forty five.82 part trace, GIC’s final stake is value about $236 million.

San Francisco-essentially based funding company 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, essentially making investments in public companies at the side of Roblox, Flutter Leisure, and SailPoint.

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

“From the outset, we believed that their vision of buy-now-pay-later affords a more cost-effective, friendlier different to credit rating playing cards. Klarna has confirmed that by welcoming over 110 million active patrons to its platform,” stated Justin Nyweide, founding partner and CIO of HMI Capital, in an announcement to BI. “We namely must 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 can’t build up for Klarna to handle the giant sigh opportunity in front of them.”

HMI Capital bought 1.1 million shares in Klarna’s IPO, which at a $40-per-part IPO trace would’ve brought in $44.5 million.

At a $Forty five.82 part trace, its final stake is value about $204 million.

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

BlackRock has invested hundreds of billions of dollars in Huge Tech giants at the side of Nvidia, Microsoft, and Apple. It’s also backed AI data processing startup Databricks, which announced a $1 billion fundraise this week at a $100 billion valuation.

The company 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 bought about 1.7 million shares in Klarna’s IPO. At a $40 IPO part trace, that sale would’ve netted the company $68.5 million.

At a $Forty five.82 part trace, BlackRock’s final stake is value 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 funding unit inside UBS Asset Management. Per Klarna’s IPO submitting, its Klarna funding is held within the Nineteen77 funds that UBS manages.

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

In Might well also, UBS stated it would sell its O’Connor unit, which had roughly $11 billion underneath administration at the time, to Cantor Fitzgerald.

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

UBS O’Connor bought about 1.3 million shares in Klarna’s IPO, which, at a $40-per-part trace, would salvage brought in about $52.3 million.

At a $Forty five.82 part trace, its final stake is value about $148 million.

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

Mubadala invests in companies within the United Arab Emirates and foreign on behalf of the executive of Abu Dhabi. It’s backed a different of prime non-public companies, at the side of OpenAI, Anthropic, Databricks, and healthcare IPO hopeful Zelis Healthcare.

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

Mubadala bought 2.3 million shares in Klarna’s IPO, representing about 43% of its holdings. At a $40-per-part IPO trace, that sale would rating the company about $93.8 million.

At a $Forty five.82 part trace, its final stake is value $141 million.

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

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

Skandia bought about 1.2 million shares in Klarna’s IPO, representing as regards to 30% of its stake within the firm. At a $40-per-part IPO trace, that sale netted Skandia about $47.7 million.

At Klarna’s $Forty five.82 closing part trace, Skandia’s final stake is value 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 inclined to have about 8% of Klarna. But after Adalberth stepped down as Klarna’s deputy CEO and left the firm in 2015, he bought all but .75% of his stake to fund his philanthropy and affect investing.

Adalberth urged BI in 2021 that he left Klarna after reevaluating his priorities, at the side of his emotions toward wealth and consumption.

Adalberth bought about 273,000 shares in Klarna’s IPO, netting him about $11.7 million at a $40 part trace.

At $Forty five.82 a part, Adalberth’s final stake is value $121 million.

London-essentially based project company Atomico owned about 3.6 million shares of Klarna, or as regards to .7% of the firm after its IPO.

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

Atomico first invested in Klarna in 2012, shopping for shares from an gift investor in a secondary sale value $14 million.

“Over 13 years of partnership with Sebastian and his group, we’ve seen financial downturns, market turbulence, and inflationary pressures, but Klarna’s industry model has constantly confirmed remarkably resilient,” Zennström stated in an announcement to BI. “That skill to scale quicker while operating leaner is unparalleled, and it’s a model more companies and founders all the draw in which via Europe will stare to emulate.”

Atomico bought simply over 1,000,000 shares of Klarna in its IPO. At a $40-per-part IPO trace, that sale netted Atomico $41.5 million.

At a $Forty five.82 part trace, Atomico’s final stake is value about $118 million.

SEB, speedy for Skandinaviska Enskilda Banken, is a Stockholm-essentially based 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 retailers. (Klarna bought Klarna Checkout in 2024.)

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

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

SEB bought about 23,000 shares in Klarna’s IPO, which at the $40-per-part IPO trace would rating the company about $937,000.

At a $Forty five.82 closing part trace, SEB’s final part is value about $110 million.