Klarna has acquired Swedish price comparison solution PriceRunner for an undisclosed amount.
According to Klarna, PriceRunner will introduce new features in the form of product reviews, product discovery and price comparisons to the Klarna app while also providing merchant partners with behaviour-based insights and marketing oppurtunities to bolster traffic.
PriceRunner – a company that has businesses in Sweden, Denmark, Norway and the UK – currently compares over 3.4 million products from over 22,000 retailers in 25 countries.
Klarna noted the purchase is part of an attempt to embed itself into all parts of the consumer shopping journey, ranging from flexible payments and delivery to tracking and returns.
Klarna CPO David Fock said, “At Klarna we constantly strive to make the banking and payments experience the best it can be, empowering consumers from product discovery to paying in a way that suits them. The acquisition will serve to strengthen our bank, card and payment services and support a competitive global landscape. 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.”
The terms of the acquisition were not disclosed and the purchase is subject to approval by regulators.
Earlier this year, Klarna teamed with H&M to launch its app and its Pay in 30 days buy now, pay later option in the Polish market.
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