Niklas Adalberth

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Four weeks ago, Swedish fintech darling Klarna raised $1 billion at a $31 billion valuation, giving two of its cofounders – CEO Sebastian Siemiatkowski and former CFO Victor Jacobsson – fortunes of more than $2 billion each, per Forbes.

Niklas Adalberth, the third cofounder, could have been a billionaire too. He owned 8% of Klarna when he departed the “buy now, pay later” firm in 2015, which allows consumers to pay for items in installments. That equity would be worth nearly $2.5 billion today. Instead, he has sold down his stake over the years to fund his philanthropy and impact investing. His remaining stake of 0.75% is worth some $230 million.

Adalberth, 39, had mixed feelings when he first heard about the massive round. He was happy for his colleagues but couldn’t help but wonder how much more he could have raised for his non-profit if he held onto his equity longer. Klarna, founded in 2005, has surged in value by nearly 1,300% since Adalberth left his post as deputy CEO.

But he doesn’t regret his decision. Adalberth has spent 140 million euros (about $165 million) to fund the Norrsken Foundation, a non-profit he founded in 2016. He wants to inspire European …read more

Source:: Businessinsider – Technology


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