10:43 13 September 2025
Son of Polish Immigrants Leads Klarna to New York Stock Exchange Debut
Sebastian Siemiątkowski, co-founder and CEO of Klarna, has taken the Swedish fintech giant public on the New York Stock Exchange, marking the largest U.S. debut by a Swedish company since Spotify. Born in Uppsala to Polish immigrants, Siemiątkowski rose from a difficult childhood — marked by financial hardship and his father’s struggles — to become one of Europe’s leading fintech entrepreneurs.
Founded in 2005, Klarna popularized the “buy now, pay later” model, later expanding into banking, savings, and credit services. The company’s journey has been turbulent: its valuation peaked at $46 billion in 2021 before plunging during the fintech downturn. The IPO now values Klarna at around 15.1 billion.
On debut, Klarna sold 34.3 million shares at $40 each, above the expected range, raising $1.37 billion . Shares jumped 30 percent in early trading before closing 14.6 percent higher. More than 40 current and former employees became millionaires, while co-founder Victor Jacobsson sold part of his stake for $1.6 billion .
Siemiątkowski, who retained his shares, described the IPO as “like a wedding — a big celebration, then life goes on.” Klarna now serves 111 million customers across 26 countries, positioning itself as a global payments leader powered by artificial intelligence.
