Klarna CEO: Swedishness is a Valuable Asset

Waving with Swedish flags does not mean much to him. But what he calls "Swedishness" is highly valued by payment company Klarna's CEO and co-founder Sebastian Siemiatkowski. It is a huge asset, he says about being a Swedish manager at an international large company.

» Published:

Klarna CEO: Swedishness is a Valuable Asset
Photo: Richard Drew/AP/TT

Share this article

Sebastian Siemiatkowski was in New York when he, like many others, reacted to a post on X by Member of Parliament Jessica Stegrud (SD) on September 2.

Stegrud wrote "Tellingly, it's a Swedish-born Kurd and a Persian who are debating a Swedish cultural canon on Aktuellt" in the controversial post.

"I am Swedish"

Siemiatkowski's response from his hotel room in New York – also on X – was:

"Let me throw myself into the debate about Swedishness. As a Sundsvall-born and Uppsala-raised person but with Polish immigrant parents... I am Swedish!"

When TT raises the issue with him in connection with the listing of Klarna on the stock exchange this week, he says:

You can't beat the Swedishness out of me. I see it in myself. I see it in how I relate to things and how I appreciate the simple things in life.

For Siemiatkowski, it's about a great trust in people and authorities, about being able to appreciate long vacation days in a simple cottage in the countryside or enjoy books like "The Road to Skarv: Stories from the Archipelago" by Sten Rinaldo.

From Rinaldo's book, Siemiatkowski recounts the story of a large, "old sea dog" who swam naked out to the cliffs in the archipelago, to lie down and scream like a seal – all to tease tourists.

It's only a Swedish guy who can do that, who is so secure in himself. There's something genuinely beautiful in it, which I think is wonderful.

"An incredible asset"

He gets roughly the same feeling when adults dance "Små grodorna" around the midsummer pole.

It's ridiculous, but at the same time so liberating. I miss this in the debate about Swedishness. Somewhere there lies the core of what it means to be Swedish to me.

Siemiatkowski thinks that the payment company Klarna – his life's work – has Swedish DNA. But with over 70 percent foreign ownership and the USA, Germany, and the UK as the company's largest markets, the company was listed in New York.

Our employees are spread globally. Our banking license is indeed Swedish, but the company is registered in the UK. For the owners, it's a non-issue. They think it's obvious that we should be listed together with our major competitors on the American market.

Then I think it's a huge strength that we have so many employees in Sweden and that we have a Swedish DNA in the company culture. I think that's an incredible asset.

Klarna's CEO and co-founder Sebastian Siemiatkowski, 43, was in his 20s when he, as a student at the Stockholm School of Economics – together with Victor Jacobsson and Niklas Adalberth – created what would become the Klarna that was listed on the New York stock exchange this week with a value of over 140 billion kronor.

Here are his tips to young entrepreneurs today:

If you want to grind, then all possibilities exist. We worked 80-90 hour workweeks for the first five years. And if you're willing to do that and think it's fun because you love what you do, then it doesn't feel that tough.

It also requires luck. A lot of luck. It's a combination. But it's like (former slalom star) Ingemar Stenmark used to say: The more I train, the more luck I have. It's both.

Tags

Author

TTT
By TTEnglish edition by Sweden Herald, adapted for local and international readers

More news

Handelsbanken Swish Payment Disruption Resolved

Handelsbanken Swish Payment Disruption Resolved

Government Proposes Increased Export Credit Guarantees for Swedish Companies

Government Proposes Increased Export Credit Guarantees for Swedish Companies

AstraZeneca Halts UK Research Facility Expansion Plans

AstraZeneca Halts UK Research Facility Expansion Plans

Princess Madeleine's Skincare Brand Launch Draws Lukewarm Interest

Princess Madeleine's Skincare Brand Launch Draws Lukewarm Interest

Länsförsäkringar Swish Payment Issue Resolved

Länsförsäkringar Swish Payment Issue Resolved

Blind Box Trend Raises Concerns Over Consumer Behavior and Spending

Blind Box Trend Raises Concerns Over Consumer Behavior and Spending

France's Credit Rating Downgraded by Fitch

France's Credit Rating Downgraded by Fitch

Microsoft Gains Amid Mixed US Market

Microsoft Gains Amid Mixed US Market

FTC Investigates Google and Amazon Over Advertising Practices

FTC Investigates Google and Amazon Over Advertising Practices

US Proposes G7 Tariffs on China and India Over Russian Oil Purchases

US Proposes G7 Tariffs on China and India Over Russian Oil Purchases

Taco Bell Plans Expansion into Sweden with First Stockholm Location

Taco Bell Plans Expansion into Sweden with First Stockholm Location

Russia's Central Bank Makes Smaller Than Expected Interest Rate Cut

Russia's Central Bank Makes Smaller Than Expected Interest Rate Cut

ECB Officials Divided on Future Interest Rate Decisions

ECB Officials Divided on Future Interest Rate Decisions

Klarna CEO Secures Billion-Kronor Loan to Buy Out Co-Owner

Klarna CEO Secures Billion-Kronor Loan to Buy Out Co-Owner

Six Suspects in Consultant Scandal Face Charges After Spain Raid

Six Suspects in Consultant Scandal Face Charges After Spain Raid

Microsoft to Remove Teams from Office Package in EU Agreement

Microsoft to Remove Teams from Office Package in EU Agreement

UK Economy Growth Stagnant in July as GDP Remains Unchanged

UK Economy Growth Stagnant in July as GDP Remains Unchanged

German Inflation Rises to 2.2 Percent in August

German Inflation Rises to 2.2 Percent in August

Global Stock Markets Rise Slightly Ahead of Expected US Rate Cut

Global Stock Markets Rise Slightly Ahead of Expected US Rate Cut

Insurance Guide: What to Know After Västernorrland Floods

Insurance Guide: What to Know After Västernorrland Floods