Buy Now Pay Later (BNPL) firm Klarna has announced that Matthew Miller will join the boards of Klarna Holding and Klarna Bank subject to regulatory approval.

Miller is currently a partner at venture capital business Sequoia, where he focuses on early and growth statge investments in companies in the US and Europe. He specialises in AI and machine learning and holds a number of board positions in AI-related companies including Graphcore and Yokoy Group.

Sir Michael Moritz, who led Sequoia's original investment in Klarna in 2010, will remain as an independent board member as well as chairman.

“I am happy to welcome Matt to Klarna’s board,” said Sebastian Siemiatkowski, chief executive and co-founder of Klarna. “His long background at Sequoia, and in particular being a champion of opening an office on the ground in Europe playing into the support for European companies, is of great value to Klarna.”

He continued: “In addition his extensive expertise in technology, and AI, will be invaluable to the company. We are also delighted to continue to enjoy Sir Michael's support, particularly given his intimate knowledge of Klarna from over a decade on the board. Michael’s continued guidance and leadership will be especially valuable as Klarna prepares for an IPO."

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