Klarna's IPO: A Global Success Story From Europe

Back in 2005, three Swedish students at the Stockholm School of Economics had a simple insight that would prove transformative for e-commerce: most online shoppers abandon their carts at the payment stage, unlike physical shoppers who could “try before they buy”.

In response, Sebastian Siemiatkowski, Niklas Adalberth and Victor Jacobsson developed their ‘Buy Now, Pay Later’ model that was revolutionary for a market just getting to grips with online shopping. By allowing customers to receive items first and pay afterwards, they removed that crucial friction point entirely.

When I met Sebastian in 2011, two things struck me immediately. First, Klarna had cracked the fundamentals, they'd proven their model worked in Sweden and were scaling internationally with serious conviction. Second, and more importantly, Sebastian and his co-founders had the drive and tenacity that separates exceptional founders from the rest. 

From day one, Sebastian thought globally while building from Europe. His insight was that mastery of Europe's complex regulatory landscape and diverse markets would create advantages that competitors couldn't easily replicate. 

Like the most successful founder-CEOs around the globe, Sebastian has navigated Klarna through tough economic cycles to establish the US business, and he inspires with his resolute ambition to continue building Klarna. Visionary, resilient, customer-obsessed, and unafraid of hard decisions. 

Today's IPO is testament to their impact. Klarna now serves 111 million active consumers across 26 countries, partnering with iconic brands like Nike, H&M, ASOS and Samsung. 

Sebastian embodies a new wave of European entrepreneurship. He's built a truly global company whilst staying rooted in European values. Throughout Klarna's 20-year journey, they've continuously adapted, from invoicing to payments to comprehensive financial services to AI-powered platforms. That ability to evolve whilst maintaining the core mission is rare.

This IPO is merely the next step, albeit a significant one, in Klarna’s journey. The team‘s plans for the future are impressive, with Sebastian's vision for AI extending far beyond customer service automation to a reshaping of financial services while solving budgeting challenges for consumers worldwide. 

Klarna's success reinforces a core Atomico belief: exceptional companies can come from anywhere, and that no one place has a monopoly on entrepreneurial talent.  Congratulations to Sebastian and the entire Klarna team on this milestone - it's a privilege to have been your partner for the last 13 years.