Global retail bank and Buy Now, Pay Later (BNPL) provider Klarna, has completed its acquisition of comparison shopping service PriceRunner.
PriceRunner will bring new features to the Klarna app globally in the form of product discovery, price comparisons and product reviews designed to help consumers save time and money.
According to Klarna, its 400k+ global retail partners as well as PriceRunner’s retail partners will benefit from increased website traffic from high intent consumers and optimised marketing opportunities to further drive their growth.
David Fock, Klarna’s chief product officer said, “Together with PriceRunner we already have some exciting plans on how we can swiftly integrate our teams and technology stacks to launch products that enhance the shopping experience for Klarna’s 147 million global consumers. We look forward to welcoming our new colleagues to Klarna.
“The acquisition will serve to strengthen our consumer offering and that Klarna will not be a marketplace but a viable and competitive alternative for retail partners vs Amazon, Google and Facebook. Klarna and PriceRunner are united in our fundamental belief that tech companies, no matter where they operate, compete on the basis of their own merit with the best products and services to gain consumers’ trust.”
Klarna will assume complete ownership from previous main owners Karl-Johan Persson, chairman of the board at H&M, Eequity, former PriceRunner CEO Nicklas Storåkers and current CEO Mikael Lindahl.
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