Klarna was founded in 2005 as Kreditor Europe AB to simplify the payment process in e-commerce. Today, Klarna is a global IT company and bank, and is considered to be one of Sweden’s unicorn companies. The name Klarna® was created by Groth & Co’s sister company in 2009 and we filed the company’s first trademark applications.
In 2005, Sebastian Siemiatkowski, Niklas Adalberth and Victor Jacobsson participated in the annual entrepreneurial competition held by the Stockholm School of Economics. The three students wanted to make e-commerce safer and easier for both buyers and sellers. In the competition, things didn’t go well – the idea ended up with one of the lowest scores. Nevertheless, Siemiatkowski, Adalberth and Jacobsson decided to set up the company under the name Kreditor Europe AB in mid-2005, with the help of the Stockholm School of Economics incubator SSE Business Lab AB.
Our sister company, the naming agency Skriptor Zigila, was commissioned to find a new name for Kreditor in 2009. The three founders were convinced of their forthcoming success and saw the company becoming international in the future. So the founders were determined to have a name in English. Skriptor Zigila worked primarily with English names but also suggested names in other languages in parallel. But perhaps it doesn’t have to be English? As long as a name doesn’t contain the letters å, ä or ö, it can be pronounced in English. The choice eventually fell on the name Klarna – a Swedish verb corresponding to the English expressions to brighten up, clarify and (make) clear. And that was exactly what Klarna wanted to do with e-commerce payments. We at Groth & Co also assisted with Klarna’s first trademark applications.
In 2017, Skriptor Zigila was in a completely different meeting with a completely different client. One of the decision makers in the naming process was American. He was worried about whether Skriptor Zigila could really create international names in English. So he asked the question “Do you do American names, like Google and Klarna?”.
Today, in 2018, Klarna is a listed company with approximately 2000 employees, and operations in 14 countries. Over 90,000 e-merchants and 60 million consumers have used Klarna’s payment solutions. The company’s turnover in 2017 amounted to €450 million.