In 2016, Niklas Adalberth stepped away from day-to-day operations at the financial services startup Klarna, the billion-dollar company he helped create, to begin working on a new kind of impact investment fund.
For Adalberth, the years at Klarna wondering and worrying about credit ratings, credit offerings and payments had lost their luster, and the young multi-millionaire was looking for something more.
“I was chasing corporate milestones at Klarna, and gradually realized there was more to life. At Klarna, we learnt a bit about entrepreneurship and technology. Maybe we could use that experience and resources to back entrepreneurs using technology to solve the world’s biggest problems,” Adalberth tells me. “We believe that entrepreneurs building rapidly scalable businesses are the best bet to solve some of the world’s biggest problems. A lot of the solutions that are in place today are not growing as quickly as the problems, or simply not set up in an optimal way to handle the challenges.”
He launched the Norrsken Foundation later that year with about $20 million of his own money. By early 2017, the first fruits of that funding took shape with the opening of Norrsken House, a co-working space in Adalberth’s hometown of Stockholm dedicated to companies that are developing technologies that have a social impact.
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