Klarna, the AI powered global payments network and shopping assistant, announced today Matthew Miller will join the boards of Klarna Holding AB and its subsidiary, Klarna Bank AB.
Matt Miller is a long-standing Partner at Sequoia focused on early and growth stage investments in technology companies across the US and Europe. Over the last 11 years at Sequoia, Matt has worked closely with companies like Confluent, dbt Labs, Docker, Grafana, Graphcore, Hex and Tessian. He also has a deep knowledge of AI and machine learning, holding a number of board positions in AI-related companies including Graphcore, Tecton.ai, Tessian and Yokoy Group. Matt moved from California to London in 2021 to help launch Sequoia’s European office.
Sir Michael Moritz, who led Sequoia’s original investment in Klarna in 2010, will remain as an independent board member as well as Chairman allowing Klarna to continue enjoying his stewardship. Previously, Michael was the Chairman of Sequoia and has decades of experience serving on the boards of some of the world’s leading internet and financial services companies including Yahoo, Paypal, Google, Linkedin, Stripe and Instacart. Today, Michael is senior advisor to Sequoia Heritage.
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. In addition his extensive expertise in technology, and AI, will be invaluable to the company. 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.”
Matt Miller, partner at Sequoia Capital commented: “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.”
The appointment was confirmed by Klarna’s shareholders at the EGM on 29 December 2023 and is subject to regulatory approval.