Niklas Adalberth (Uppsala, 1981) is one of the protagonists of the European digital ecosystem. Founder of the company Klarna, one of the largest fintech companies on the continent, this Swedish entrepreneur has visited Barcelona for the award that Esade has just awarded him for his commitment to the city. Adalberth has promoted the opening of a branch of Norrsken, a foundation directed by himself and that promotes the creation of offices where only startups and investors with projects of social and environmental impact can accommodate.
Why is Norrsken betting on Barcelona?
The city’s digital ecosystem is vibrant and I believe that Spain still has a long way to go in the impact economy.
How has the Catalan ecosystem received the Norrsken project, in which the foundation has invested 10 million euros in a 10,000 m² space?
Very good. There are already 1,000 people working in these magnificent offices, on the seafront, in the Barceloneta neighborhood. I want to thank the good disposition and collaboration of Thomas Meyer, founder of Desigual and owner of the space. The Barcelona hub has become the largest center for impact startups in all of Europe, it is even ahead of our headquarters in Stockholm. That would also not be possible without the local team, led by Marc Jordana.
What has been the reception of Norrsken by public administrations?
Frankly, I don’t know. I have not met with any public representatives. I hope to do so in the future since it is key to have close collaboration with the public sector to overcome global challenges, included in the sustainable development goals of the United Nations.
What new projects do you have in the city?
We periodically organize events aimed at the entire entrepreneurial community with the aim of sharing knowledge and strengthening the network of contacts. In November, we will bring together more than a thousand founders of impact startups from around the world.
Do you plan to open more offices in Spain?
We are exploring multiple cities where we can replicate the model. Both in Europe and outside the continent.
Could you give me a city name?
It is still early but in Europe the reference cities for entrepreneurship are London, Paris and Berlin.
Will there be more investments in Spain? Norrsken has several investment vehicles in startups and also an accelerator for innovative projects.
We plan to invest in this country although not in the near future. In the past, we have already invested in Spain. Specifically, in the Barcelona startup Submer, which builds and installs immersion liquid cooling systems, which contributes to reducing electricity consumption.
What is your opinion of Barcelona’s innovative community? What could I learn from Sweden?
In Barcelona, ??I have seen profound innovations that have surprised me. What I would recommend to all agents in the sector, public and private, would be to accelerate their commitment to the impact economy. In Barcelona, ??as well as in Spain, I see that projects are waking up but I think the community could do more to accelerate their growth.
How could I get it?
In Sweden, there are tax benefits and public aid for entrepreneurs who create a startup with social or environmental impact. That helps. And also society’s conviction about the impact economy: it is not a charitable activity, but a business that can generate profits and contribute to improving the planet. Therefore, now, all the startups that are born in Sweden contribute in one way or another to this purpose.
Are you concerned that these projects will be affected by the slowdown in investment by venture capital funds in recent years?
No. The system works with these rules. It is normal that during some years the investment is higher, and in others, lower. It is a sector where the risk is high and it is natural that many projects fall by the wayside.
How do you remember your time as an entrepreneur? He was one of the promoters of Klarna, one of the leading Swedish technology companies, along with Spotify and Skype.
I spent ten years running the business. I remember that I had to work a lot, and very hard, to get the company to exceed 1 billion in value and become a unicorn.
Why did you decide to leave the company when it was more successful?
I studied Economics at Stockholm Business School and, when I finished my degree, I decided to start a business because I wanted to be financially independent. However, when I achieved it after years, a feeling of emptiness came over me. I realized that my work had no meaning, that it didn’t make me happy. After several years of thinking about it, I decided to quit. It was not an easy decision. I received recognition and praise every week. Nobody understood it.
What were the underlying reasons for your resignation?
Klarna is dedicated to financing low-priced products in installments and that activity does not align with my values. It promotes consumerism and does not directly contribute to solving the future challenges facing the planet. I am very clear that I want to be part of the solution and not the problem.
When did your awareness for the environment begin?
When I was young I became vegan after watching documentaries about animal abuse. Now I am a vegetarian although I also eat fish. Over the years, I have realized that I want to contribute to the common good through the world of entrepreneurship.
What did you do after leaving Klarna?
I founded a startup, Klarity, that wanted to fight corruption in Africa. The project didn’t work out and I decided to leave front-line entrepreneurship and dedicate my time to helping other professionals found startups. Of course, linked to the impact economy.
This is how the Norrsken Foundation was born in 2016.
Yes. Since then we have opened ‘houses’ in Stockholm, Barcelona and Kigali, in Rwanda. I hope to expand the project in different parts of the world.