Klarna CEO: Embracing "Swedishness" as a Key Asset

Published:

Klarna CEO: Embracing "Swedishness" as a Key Asset
Photo: Richard Drew/AP/TT

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 in an international large company.

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 enjoying 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 Swedish DNA in the company culture. I think that's an incredible asset.

The payment company 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

US Tariffs on Swedish Timber Threaten Sawmill Profitability

US Tariffs on Swedish Timber Threaten Sawmill Profitability

Tips for Selling Gold: What to Consider Beforehand

Tips for Selling Gold: What to Consider Beforehand

Gold Prices Surge as Complaints Against Private Sellers Rise

Gold Prices Surge as Complaints Against Private Sellers Rise

US Stock Market Closes Mixed After Strong Week

US Stock Market Closes Mixed After Strong Week

Nelly Wins Case Against Shein but Must Pay Legal Costs

Nelly Wins Case Against Shein but Must Pay Legal Costs

Offline Card Purchases Coming by Summer 2026 in Sweden

Offline Card Purchases Coming by Summer 2026 in Sweden

Storm Amy Drives Electricity Prices to Zero in Southern Sweden

Storm Amy Drives Electricity Prices to Zero in Southern Sweden

Blue and yellow IKEA continues to grow in the US - buys a large property in central New York as part of its expansion

Blue and yellow IKEA continues to grow in the US - buys a large property in central New York as part of its expansion

Clas Ohlson Warehouse Staff Face Termination Over New Agreement

Clas Ohlson Warehouse Staff Face Termination Over New Agreement

Stockholm Leads Europe in Stock Market Growth with Verisure Listing

Stockholm Leads Europe in Stock Market Growth with Verisure Listing

Oskarshamn Nuclear Reactor Restart Delayed Again

Oskarshamn Nuclear Reactor Restart Delayed Again

Financial Supervisory Authority Warns of Growing Scam List

Financial Supervisory Authority Warns of Growing Scam List

Service Sector Shows Clear Recovery in September Index

Service Sector Shows Clear Recovery in September Index

Second-Highest Rent Increase in Over 20 Years Reported This Year

Second-Highest Rent Increase in Over 20 Years Reported This Year

Stockholm Stock Market Rises for Sixth Consecutive Day

Stockholm Stock Market Rises for Sixth Consecutive Day

International Flights Rise in Sweden This Year

International Flights Rise in Sweden This Year

Japanese Stock Market Rises as Technology Shares Surge

Japanese Stock Market Rises as Technology Shares Surge

Swedish Apartment Prices Drop Since 2021: Where They Fell Most

Swedish Apartment Prices Drop Since 2021: Where They Fell Most

Lyten Signs Collective Agreement After Northvolt Acquisition

Lyten Signs Collective Agreement After Northvolt Acquisition

Democrat Urges Trump to Release Job Figures Amid Government Shutdown

Democrat Urges Trump to Release Job Figures Amid Government Shutdown