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

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

Sequoia first invested in Klarna in 2010, main the corporate’s $9 million fundraise and contributing extra capital over a pleasant selection of rounds in the following years.

Light Sequoia accomplice Michael Moritz joined Klarna’s board of administrators at the firm’s 2010 funding and possess become the chairperson of the board in 2020.

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

“It’s unparalleled what an iron-willed CEO cherish (Sebastian Siemiatkowski), a lasting charge prop, a team of precise believers, and two decades of regular (ish?) compounding can fetch,” Reed posted on X Wednesday morning.

Sequoia bought an additional 7.33 million shares in Klarna between July 2022 and March 2023 for $135 million, in accordance with Klarna’s IPO filing.

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

At a $45.82 closing portion stamp, Sequoia’s final stake is charge about $3.5 billion.

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

Jacobsson based mostly Klarna in 2005 alongside Sebastian Siemiatkowski and Niklas Adalberth. He served as the corporate’s CFO until 2012, when he left.

Jacobsson and Siemiatkowski, Klarna’s CEO and the suitable cofounder who remains an executive at the corporate, possess reportedly clashed in private for years over key governance choices at Klarna, cherish how and when the corporate will possess to transfer public.

Jacobsson has accumulated a enormous stake in Klarna over time, along side by shopping for up shares in secondary markets thru plenty of holding companies, the Financial Cases previously reported.

Between July 2022 and March 2023, Jacobsson bought nearly about 4 million shares of Klarna for a complete of $73 million across four assorted holding companies, per Klarna’s IPO filing.

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

At a $45.82 portion stamp, Jacobsson’s final stake is charge about $1.38 billion.

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

Heartland first invested in Klarna in 2017 by arrangement of Brightfolk A/S, another of Holch Povlsen’s holding companies. That funding included shares bought from present Klarna investors akin to private equity firm General Atlantic and cofounder Niklas Adalberth.

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

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

At a $45.82 portion stamp, Heartland’s final 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 was once getting his master’s diploma at the Stockholm School of Economics. The company, at the foundation named Kreditor and rebranded to Klarna in 2010, sought to allow customers to pay for their purchases after transport.

Siemiatkowski was once estimated to be a billionaire in early 2022, along with his receive charge peaking at roughly $3.2 billion after Klarna raised a funding around the old year at a $45.6 billion valuation. The company’s fundraise in July 2022, however, valued Klarna at $6.7 billion, knocking Siemiatkowski off the billionaire pedestal.

Klarna paid $16.5 million to nonprofits based mostly by Siemiatkowski’s wife, along side thru donations and partnerships, staunch thru the final 5 years, BI reported final week.

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

At a $45.82 stamp, his stake is now charge about $1.17 billion.

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

CBA, the biggest bank in Australia by total property, first invested $100 million in Klarna in 2019. It’s also backed Anthropic, saying an funding in the AI startup huge in March.

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

As fragment of its investments in Klarna, CBA received 50-50 ownership rights with Klarna to Klarna’s Australian and Unusual Zealand substitute.

CBA bought an additional 1.8 million shares in Klarna between July 2022 and March 2023, in accordance with Klarna’s IPO filing, for an aggregate stamp of $32 million.

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

At a $45.82 portion stamp, its final stake is charge about $798 million.

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

The Silicon Valley-based mostly entirely firm’s other tech bets consist of fintech darling Stripe, substitute-administration utility company Airtable, and weight-care app Noom.

Silver Lake led Klarna’s $650 million fundraise in 2020, which valued the corporate 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 stamp.

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

Singaporean sovereign wealth fund GIC Deepest 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 sold about 1.2 million shares in Klarna’s IPO, netting it $46.9 million at a $40 IPO portion stamp.

At a $45.82 portion stamp, GIC’s final stake is charge about $236 million.

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

HMI Capital manages about $3.22 billion in property, basically making investments in public companies along side Roblox, Flutter Entertainment, and SailPoint.

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

“From the outset, we believed that their vision of aquire-now-pay-later provides a more cost-effective, friendlier different to credit rating playing cards. Klarna has proven that by welcoming over 110 million energetic patrons to its platform,” stated Justin Nyweide, founding accomplice and CIO of HMI Capital, in an announcement 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 look forward to Klarna to form out the colossal enhance different in entrance of them.”

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

At a $45.82 portion stamp, its final stake is charge about $204 million.

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

BlackRock has invested hundreds of billions of bucks in Huge Tech giants along side Nvidia, Microsoft, and Apple. It’s also backed AI files processing startup Databricks, which introduced 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 extra capital into the corporate in its 2020 and 2021 raises.

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

At a $45.82 portion stamp, BlackRock’s final stake is charge about $194 million.

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

UBS O’Connor is an different funding unit interior UBS Asset Administration. Per Klarna’s IPO filing, its Klarna funding is held in the Nineteen77 funds that UBS manages.

It’s not certain 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 Would possibly possibly, UBS stated it would possibly possibly possibly probably presumably promote its O’Connor unit, which had roughly $11 billion under administration at the time, to Cantor Fitzgerald.

That acquisition hasn’t but closed. UBS and Cantor Fitzgerald declined to substantiate whether or not O’Connor’s stake in Klarna will 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 stamp, would possess brought in about $52.3 million.

At a $45.82 portion stamp, its final 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 corporate after its IPO.

Mubadala invests in companies in the United Arab Emirates and overseas on behalf of the federal government of Abu Dhabi. It’s backed a vary of prime private companies, along side OpenAI, Anthropic, Databricks, and healthcare IPO hopeful Zelis Healthcare.

Mubadala invested in Klarna in 2022 as fragment of the corporate’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 stamp, that sale would receive the firm about $93.8 million.

At a $45.82 portion stamp, its final stake is charge $141 million.

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

The Swedish insurance and monetary products and services company 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 nearly about 30% of its stake in the corporate. At a $40-per-portion IPO stamp, that sale netted Skandia about $47.7 million.

At Klarna’s $45.82 closing portion stamp, Skandia’s final 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 corporate after its IPO. That’s the sum of shares held by Adalberth himself and by Sunnersta Make investments AB, Adalberth’s private funding company.

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

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

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

At $45.82 a portion, Adalberth’s final stake is charge $121 million.

London-based mostly entirely venture firm Atomico owned about 3.6 million shares of Klarna, or nearly about .7% of the corporate after its IPO.

Started in 2006 by Skype cofounder Niklas Zennström, Atomico has backed some VC heavy-hitters, along side fintech huge Stripe and physical therapy company Hinge Health, which went public earlier this year.

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

“Over 13 years of partnership with Sebastian and his team, we’ve viewed financial downturns, market turbulence, and inflationary pressures, but Klarna’s substitute mannequin has repeatedly proven remarkably resilient,” Zennström stated in an announcement to BI. “That ability to scale faster while running leaner is unparalleled, and it’s a mannequin extra companies and founders across Europe will leer to emulate.”

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

At a $45.82 portion stamp, Atomico’s final stake is charge about $118 million.

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

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

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

SEB told BI that its stake in Klarna, as listed in the corporate’s IPO filing, is “kept in custody on behalf of customers.” The bank declined to commentary extra.

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

At a $45.82 closing portion stamp, SEB’s final portion is charge about $110 million.