Sebastian Siemiatkowski

I think it's amazing.

And there's a new generation now with Sonia and Andrew and the new guys coming.

So like it's really cool.

Pat and Alfred.

Yeah, I think the way I thought about this is like when we started Klana 20 years back, we were just like, okay, look, why are we not just making these banking products better working online?

Because you got to remember in 05, the bank's internet offering were shit.

Dude, in 2026, that's some shit.

Yeah, exactly.

So it was just like, they're all shit.

So we were just like, okay, we're going to take some of the stuff that the banks do and we're just going to do it better online.

We did that.

And then that grew and we were successful.

I mean, people don't know this, but we were, we raised $60,000 in our first angel investment.

$30,000 of that was spent and then we became profitable.

And we were running this as a profitable company from 2005 to 2019.

We had almost 10 consecutive years of high growth and profitability that actually got us like this reward because we were like only one of two companies in Sweden that ever had such a long streak of high growth and profitability at the same time.

But what we realized also over time was suddenly I'm sitting one evening and I'm looking at my P&L and I'm like, wow, what is that line?

Oh, shit, that's late fees.

That's a big revenue line.

And I was like, that's not going to be long-term sustainable.