Klarna makes its latest acquisition with Swedish fintech PriceRunner
All of PriceRunner’s 170 employees will join Klarna’s 4,000-strong staff as part of the deal.
With a pot of cash as big as Klarna’s, it’s no wonder that the buy now, pay later fintech is making a number of acquisitions—making four this year alone.
Today, the BNPL firm has announced it has acquired Nordic comparison shopping service PriceRunner for an undisclosed amount.
The acquisition will enable Klarna to add new features to its ‘super app’, providing a more seamless shopping and banking experience for its 90m customers worldwide.
PriceRunner operates across Sweden, Denmark, Norway and the UK and compares over 3.4m products from 22,500 retailers in 25 countries.
Up until 30 September 2021, PriceRunner had revenues of nearly £40m and is used by millions of customers each month.
“The acquisition will serve to strengthen our bank, card and payment services and support a competitive global landscape,” David Fock, Klarna’s chief product officer said.
“It also further cements that Klarna will not be a marketplace but a viable and competitive alternative for retail partners vs Amazon, Google and Facebook.”
As part of the acquisition, PriceRunner’s 170-person-strong team will join the ranks of Klarna’s 4,000 employees.
”We have spent the last five years rebuilding PriceRunner from scratch to create a best-in-class comparison shopping service while helping retail partners improve their business,” Mikael Lindahl, PriceRunner’s CEO added.
“We see Klarna as the ideal partner to accelerate growth and achieve our long-term vision to become the most loved comparison shopping service in the world.”
Most recently, Klarna acquired Swedish software-as-a-service platform APPRL, which allows content creators and retailers to work together using AI, scalable technology to bring informative shoppable content to consumers.
Before that, the BNPL giant acquired social shopping platform Hero for an undisclosed amount.