Siemiatkowski cofounded Klarna in 2005, pioneering the buy-now, pay-later model in fintech that has been struggling in 2022.
Klarna lets consumers pay for small and large retail items in installments. In July 2022, investors valued the company at $6.7 billion, down from a prior $45.6 billion.
The lower valuation for Klarna means that Siemiatkowski is no longer a billionaire; he owns about 7% of Klarna.
Siemiatkowski attended the Stockholm School of Economics and worked at an accounts-receivable factoring firm before starting Klarna.
Klarna is a fully licensed bank in Europe, where it offers checking accounts, savings accounts and debit cards.
The company is appealing to younger consumers such as Gen Z and Millennials with new products that make shopping easier and remove some common pain points.
Klarna's billionaire co-founder Sebastian Siemiatkowski attacked unions and staff for criticising his handling of cuts that cost around 700 jobs at the Swedish buy now, pay later fintech.
Buy now, pay later fintech company Klarna has raised $1 billion in new funding at a $31 billion valuation, making two of its three cofounders billionaires.
Venture capital firm Sequoia famously once only backed startups within bicycle distance of its Silicon Vally offices. Now the firm's investing heavily in its European presence to find the next Klarna and UiPath.
As the world moves rapidly online, the distinction between B2B and B2C is becoming increasingly hazy. One business that is leveraging its B2B strengths into an expanded B2C offering is Klarna, the $5.5 billion fintech platform that allows shoppers to buy now and pay later.
Forbes today released the fourth annual edition of its “30 Under 30 Europe” list, featuring 300 young disruptors, visionaries and rising stars from across the region, who are
Millionaire American rapper Snoop Dogg, a.k.a. Calvin Broadus, has today become a minority shareholder in Klarna and is appearing as Smoooth Dogg in the startup's marketing campaign.
Klarna is gearing up to launch a hybrid payments-credit card around the world—its CEO disclosed to Forbes—a move poised to transform the payments processor into a full-on digital bank.
Sebastien Siemiatkowski was told his idea for an online, free-floating credit issuer would never work, but he ended up building a viable challenger to PayPal.
A community of leaders and gamechangers from across Europe will gather In Amsterdam, 5-7 September, 2018 Speakers and participants include Cofounder & CEO of Swedish payments unicorn Klarna, Sebastian Siemiatkowski; Jacob de Geer, cofounder & CEO of iZettle, the payments platform recently bought by Paypal; social influencer and haircare founder, Negin [...]
According to Sebastian Siemiatkowski, CEO of Klarna, banks need to be customer centric, not just talk about it. But in practice, we see little change in the banks’ approach. That’s why we often hear about developing alliances between banks and FinTech platforms. Will friends become enemies?