By Aisling Finn on Wednesday 28 July 2021
Stockholm-based APPRL has been added to Klarna’s growing social shopping and retail marketing repertoire.
Klarna is really splashing the cash lately, making its third acquisition in as many weeks.
The buy-now-pay-later platform has acquired Swedish software-as-a-service platform APPRL as it looks to expand its ever-growing roster of products and services.
Stockholm-based APPRL allows content creators and retailers to work together using AI, scalable technology to bring informative shoppable content to consumers.
“As retailers continue to embrace influencer marketing as their growth engine, with an increasing focus on ROI, data and automation, APPRL has been seeing an exponential increase in demand,” Martin Landén, CEO of APPRL, said.
“With APPRL's platform together with Klarna's scale, incredible talent and portfolio of marketing services, we will be able to offer retailers an end-to-end influencer and performance marketing solution that they won't be able to find anywhere else.”
Before acquiring APPRL, several Klarna employees had participated in the firm’s funding rounds as angel investors, opening up channels of communication for future prospects, like an acquisition.
“As social shopping becomes a core element of the retail experience, we believe Klarna’s position at the centre of the shopping ecosystem is instrumental in connecting retailers to both consumers and content creators who resonate with their brand audiences,” Sebastian Siemiatkowski, CEO of Klarna, added.
“By adding APPRL to Klarna’s existing retailer support expertise, we see a huge opportunity to create an enriching and informative shopping experience for consumers everywhere while accelerating retailer growth.”
As part of the acquisition, retailers will be able to directly connect to content creators to create social shopping content and track campaigns all through Klarna.
AltFi reached out to Klarna to get some clarification on the financials of the transaction, but it declined to comment.
Before that, the BNPL giant acquired social shopping platform Hero for an undisclosed amount.
Similar to APPRL, Hero will enable in-store teams of Klarna’s 250,000 retail partners to become content creators instantly, providing reviews and real-time advice to bring the best of in-store shopping to online customers.