Klarna: How employee equity was seamlessly managed ahead of the IPO

Since 2021, Klarna has partnered with Nordiska Värdepappersregistret (NVR) to manage the digital share register of its entities set up in connection with its Restricted Stock Units program (RSUs). RSUs are a form of employee stock plan playing a central role in attracting and retaining talent, particularly in the tech and fintech sectors, where competition for skilled professionals is intense and long-term motivation highly valued.

During this period, NVR has maintained digital share registers and administered thousands of entries per quarter, aligned with the vesting schedules of the incentive programs. Through close collaboration, Klarna and NVR have established a clear and structured process enabling efficient handling and complete quality control.

NVR’s role in one of Europe’s largest tech IPOs

In September 2025, Klarna was listed on the New York Stock Exchange (NYSE). As one of Europe’s largest fintech companies, the event drew international attention. But behind the scenes lay a complex challenge: how do you accurately manage the fully vested RSUs of 6,500 current and former employees?

To ensure full compliance and documentation, thousands of share register entries needed to be executed within an extremely short time frame – a task in which NVR played a crucial behind-the-scenes role.

In just 36 hours, NVR processed and recorded thousands of entries to fully complete the listing of the RSUs for Klarna’s former and current employees. This enabled Klarna to conclude this part of the IPO process with full confidence.

“We really appreciate how quickly the team at NVR adapted to our tight deadlines, as well as your availability, speed and accuracy in ensuring that everything was completely correct. Your efforts really made a difference"
– The Equity and Compensation team at Klarna

Following the IPO, Klarna has continued to entrust NVR with the management of its legacy incentive programs, a trust that underscores both the efficiency and reliability of the partnership.

About NVR

Nordiska Värdepappersregistret (NVR) is a digital platform for secure and efficient management of ownership data and share registers. The system is designed to accommodate both simple and complex needs - from startups to publicly listed companies - combining legal precision with modern automation.

Despite ongoing digitisation, equity management has long remained a neglected area. NVR changes this by automating key processes and ensuring complete traceability in every ownership change. The result is an accurate and always up-to-date share register – always accessible, always correct.

The platform is used by growth companies, venture & private equity funds, lawyers, and advisors who require reliable data and efficient processes for share issues, ownership changes, and incentive programs. With NVR, companies gain full control over their ownership – quickly, accurately, and without compromise.

Would you like to learn more about how NVR can help your company manage ownership data and incentive programs securely and efficiently? Read more about our solution or contact us for a conversation.