Klarna Names Michael Moritz as Chairman of the Klarna Board

​Klarna, a leading global payments provider and shopping service, announced that it has named Michael Moritz, partner at Sequoia Capital, as the Chairman of the Klarna Board of Directors.

In addition, the bank also announced the appointment of three new members to the board: Omid R. Kordestani, former executive Chairman of Twitter, Lise Kaae of Bestseller Group, and Sarah Smith, a senior advisor at Goldman Sachs.

The hiring comes at a time when the business is accelerating at such a rapid pace. More than 21 million new consumers have joined Klarna since the start of 2020 and the company continues to grow its global network of 200,000 retail partners including H&M, Macys, Etsy, IKEA, Sephora, Expedia Group, Charlotte Tilbury, The North Face, Samsung, Nike and AliExpress.

Moritz brings extensive experience, roughly a third of a century in fintech companies. Michael joined Sequoia in 1986 and has served as Sequoia's board member in companies such as Google, LinkedIn, PayPal, Yahoo, Kayak, Instacart, Strava and Stripe.

Sebastian Siemiatkowski, CEO and co-founder said: “I am humbled to welcome an exceptional group of executives to the Klarna Board and the longstanding commitment of Sequoia Capital and Sequoia Partner, Michael Moritz, to the company. Sequoia has been the principal shareholder and the key early backer of many of the world's contemporary companies including Airbnb, DoorDash, Unity and WhatsApp.”