Klarna appoints Sequoia partner Matthew Miller to its board

Rick Steves

“Klarna is on an incredible trajectory, transforming the way the world views credit, payments, and shopping – sectors that have been teetering on the brink of disruption for quite some time.”

Matthew Miller, a seasoned Partner at Sequoia with extensive experience in technology investments, is set to join the boards of Klarna Holding AB and Klarna Bank AB.

Having spent over a decade at Sequoia, Miller has played pivotal roles with companies like Confluent, dbt Labs, Docker, Grafana, Graphcore, Hex, and Tessian. His relocation to London in 2021 for launching Sequoia’s European office aligns with Klarna’s global presence.

Sir Michael Moritz, who led Sequoia’s initial investment in Klarna in 2010, remains an independent board member and Chairman, ensuring a seamless transition. Moritz, with a rich history in overseeing boards of prominent tech and financial firms, continues as a valuable advisor to Klarna.

“Transforming the way the world views credit, payments, and shopping”

Sebastian Siemiatkowski, Klarna’s CEO, highlighted Miller’s expertise in AI and technology, key areas for Klarna’s growth. “I am happy to welcome Matt to Klarna’s board. His long background at Sequoia, and in particular being a champion of opening an office on the ground in Europe playing into the support for European companies, is of great value to Klarna. In addition his extensive expertise in technology, and AI, will be invaluable to the company. We are also delighted to continue to enjoy Sir Michael’s support, particularly given his intimate knowledge of Klarna from over a decade on the board. Michael’s continued guidance and leadership will be especially valuable as Klarna prepares for an IPO.”

Matt Miller emphasized Klarna’s transformative impact on credit, payments, and shopping, especially its pioneering role in harnessing generative AI. “Klarna is on an incredible trajectory, transforming the way the world views credit, payments, and shopping – sectors that have been teetering on the brink of disruption for quite some time. I’m excited to join Klarna’s boards and support the company in continuing its impressive journey, particularly as they seize the opportunity to further harness generative AI. Sequoia has had the privilege of partnering with Klarna for well over a decade and we know them to be true outliers. I look forward to spending more time with this great team and in Sweden, a place already close to my heart.”

The confirmation of Miller’s appointment, following the shareholders’ approval on December 29, 2023, awaits regulatory clearance.

Klarna works with several Forex brokers

Klarna is a global payments network and shopping assistant, known for providing innovative payment solutions and services. It enables consumers to make purchases online and pay for them later through flexible financing options or by installment payments. Klarna’s services aim to simplify the payment process for both consumers and merchants, offering a smoother and more convenient shopping experience.

The company utilizes artificial intelligence and technology to assess creditworthiness and facilitate instant financing decisions. Klarna has gained prominence for disrupting traditional payment methods and introducing a “buy now, pay later” approach, allowing consumers to defer payments or split them into manageable installments.

Founded in 2005 in Sweden, Klarna has expanded its presence internationally and has become a prominent player in the fintech industry. The platform is designed to enhance the overall shopping journey by providing transparent and straightforward payment solutions, ultimately aiming to redefine the way people approach online shopping and payments.

Several Forex brokers have been working with Klarna, including IC Markets, Admirals, FXCM, Skilling, Just2Trade, Fxview, LegacyFX, and XS.

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