Klarna has announced that Sequoia Capital Partner Matt Miller will join the Boards of Klarna Holding AB and its subsidiary Klarna Bank AB.
Miller has been a Partner at Sequoia for more than 10 years where he worked with technology companies such as Confluent, Docker, Hex and Tessian, amongst others, on the early growth stages of investment.
The new Klarna Board Member also brings with him a “deep knowledge” of AI and machine learning – an area in which Klarna has been heavily focusing in recently – holding Board positions at AI firms like Graphcore and Tecton.ai.
Sebastian Siemiatkowski, CEO and Co-Founder of Klarna, said: “I am happy to welcome Matt to Klarna’s board. His long background at Sequoia, and in particular being a champion of opening an office on the ground in Europe playing into the support for European companies, is of great value to Klarna.”
Miller added: “Klarna is on an incredible trajectory, transforming the way the world views credit, payments, and shopping – sectors that have been teetering on the brink of disruption for quite some time.
“I’m excited to join Klarna’s boards and support the company in continuing its impressive journey, particularly as they seize the opportunity to further harness generative AI.
“Sequoia has had the privilege of partnering with Klarna for well over a decade and we know them to be true outliers. I look forward to spending more time with this great team and in Sweden, a place already close to my heart.”
In addition to Miller’s Board appointment, Sir Michael Moritz, Sequoia Chairman and now Senior Advisor at Sequoia Heritage, will continue to work alongside Klarna as an independent Board Member.
Moritz helped Klarna with its original investment round back in 2010 and aims to continue to bring his extensive experience working for the likes of Google, PayPal, Yahoo and more.
“We are also delighted to continue to enjoy Sir Michael’s support, particularly given his intimate knowledge of Klarna from over a decade on the board. Michael’s continued guidance and leadership will be especially valuable as Klarna prepares for an IPO,” added Siemiatkowski.
The appointment was confirmed by Klarna’s shareholders at the EGM on 29 December 2023 and is subject to regulatory approval.