Swedish Startup Space

Klarna founder Niklas Adalberth confirms he sold shares worth $12 million

Written by on August 29, 2016
Editors Note: This post is part of a series called Featured posts, presented by .

Klarna founder Niklas Adalberth has sold shares in the company worth nearly $12 million. According to official records, $5 million worth of shares were purchased by Avito co-founders Jonas Nordlander and Filip Engelbert.

In an e-mail sent to Breakit, Niklas Adalberth confirmed he sold part of his shares, but would not comment on who the buyers were.

“It is true that I sold a small portion [of my shares]. The absolute majority of the $12 million in the transaction went to Norrsken Foundation. With theses funds, Norrsken can further pursue ambitious efforts to do good with the help of technology,” wrote Mr. Adalberth.

Adalberth left his operational role in Klarna in 2015. Earlier this year he founded Norrsken Foundation (The Northern Lights Foundation), which invests in companies seeking to solve major social problems.

He has previously told Breakit that he invested $8 million in the foundation, but this was just the beginning.

“I am making a major commitment of time, as well as finances, to Norrsken. This is my full time job. I will use the money from the Klarna shares to support the foundation,” Adalberth said earlier this year.

At the time, he stressed he is selling a “very small portion of shares”, and that he will continue to be heavily involved in Klarna.

Earlier this summer, Swedish newspaper Svenska Dagbladet reported that Adalberth is selling his entire stake. The total of those shares would reach a value of nearly $300 million.

Mr. Adalberth denied this, stating at the time, “I do not know where the media got this information, but it is incorrect. I will sell some shares, but I will continue my commitment on the Klarna board.”

Breakit contacted Avito co-founder Jonas Nordlander, who declined to comment.

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