Sebastian Siemiatkowski is the CEO and leader of one of Sweden's global tech startups, Klarna. He grew up in a simple environment in Sweden as the son of Polish immigrants.
Tech interest
His interest in technology and entrepreneurship was sparked early on, and he went on to attend the Stockholm School of Economics. There, he met Niklas Adalberth and Victor Jacobsson, and the trio would later lay the foundation for Klarna in 2005 with a clear idea: to make online payments easier and safer.
From Kreditor to Klarna
The first company was named Kreditor. The business idea was to allow customers to wait with payment until after delivery of the purchased goods. Many were skeptical of this concept. A jury that was supposed to validate the idea dismissed the concept and saw card payments as the future. But Sebastian and his co-founders did not give up. They launched their service, and it quickly gained traction. Swedish e-retailers appreciated the security of the model, and the number of users grew rapidly as Klarna succeeded in making important conversions, i.e., getting customers to complete their purchases.
Goal of global expansion
When the company changed its name to Klarna, the goal was international expansion, and that required capital. Klarna managed to attract investors such as American Sequoia Capital, and the company was able to take the leap into Europe. Under Sebastian's leadership, the focus was soon directed towards the US and Silicon Valley. The market is, of course, tough in fintech, but Klarna managed to establish itself as a well-known fintech player. Collaborations with well-known profiles, such as the artist Snoop Dogg, further strengthened the brand. Today, Klarna is preparing for an IPO in New York as part of its global strategy. This IPO has been postponed several times in wait of a better market.
Sebastian's leadership style and vision
Sebastian is often described as a passionate and demanding leader. He has a strong focus on details and a clear vision of making Klarna a world-leading player in payment solutions. The journey has not always been easy, but his perseverance and willingness to change have characterized both the company and its culture. For example, there was a major controversy over whether Klarna should sign a union collective agreement. Sebastian compared the strike plans and the union's actions to Stalinism and George Orwell's "Animal Farm," which sparked strong criticism and controversy. However, Klarna eventually signed a collective agreement.
Great Swedish success
Sebastian Siemiatkowski's path - from a technology-interested student in Stockholm to CEO of a global payment giant in Silicon Valley - says something about the power of Swedish innovation. With over ten million users worldwide, Klarna is today a symbol of how ideas born in Sweden can take their place on the global stage.
Sources: TT, Breakit, Företagskällan, Kollega, Sifted
