Klarna has hinted that it’s preparing to go public soon and now the founder is saying the new chairman and board members will be a huge help in that.
The Swedish buy now pay later company has named venture capital firm Sequoia Capital’s Michael Moritz as its new chairman of the board.
Moritz has been part of the company’s board ever since the VC invested in Klarna about a decade ago.
Sebastian Siemiatkowski, co-founder and CEO at Klarna, endorsed the new chairman when speaking with the Financial Times, saying how he’d enjoyed the support of Moritz for years and that he’d been helpful in setting the strategy for the venture.
Klarna also added Twitter’s old chairman Omid Kordestani, Goldman Sachs’ Sarah Smith, and Bestseller Group’s Lisa Kaae to the board.
Siemiatowski also added that the new international additions would make it easier for the firm to go public. Although, he also told the Financial Times that it was not the only reason for the changes at the top of the company.
In August, Siemiatowski hinted that the company may go public within the next two years.
Klarna became Europe’s most valuable privately owned FinTech company in September after securing a $10.65bn valuation on the back of closing a $650m funding round.
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