An interesting development: TechCrunch reported that a Swedish startup Klarna (formerly Kreditor), one of the biggest providers in Europe of in-store credit and invoice based payment solutions for the e-commerce sector, has secured funding from Sequoia Capital. What’s interesting here is that the superstar VC Mike Moritz, who invested in Google among others, has joined Klarna’s board.
Why this is interesting is because the general belief is that US VCs are very rarely interested in investing in European companies, and it’s even rarer to see a big name US VC to join a Euro startup board. Just in our previous story our guest blogger, Marita Seulamo-Vargas, reported how the US VCs had advised Nordic and Baltic companies to seek investments primarily from home.
That said, as much as I would like it to be, I don’t think this development is a trend or a change of hearts from the US VC scene any more than Klarna is a just-another-startup, but it sure is interesting to see Moritz’s move. I guess this was just another day in the startup life: “People who say it cannot be done should not interrupt those who are doing it.”
You can read more about Klarna’s offering here.