Klarna, a global retail bank, payments, and shopping service, today revealed it has completed the acquisition of PriceRunner, a comparison shopping service in the Nordic region with operations in Sweden, Denmark, Norway and the United Kingdom.
The acquisition of PriceRunner will provide new features to Klarna app globally. It will deliver product discovery, price comparisons and product reviews to help consumers save time and money. Klarna has more than 400 thousand global retail partners that will benefit from increased website traffic from high intent consumers and optimized marketing opportunities to further drive their growth. PriceRunner’s retail par PriceRunner employees in tners will also benefit from this.
PriceRunner employees in Sweden, Denmark and Norway, which are over 200, are now officially part of Klarna.
David Fock, Klarna’s Chief Product Officer commented:
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 147m 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.
Following the completion of the acquisition, Klarna will assume complete ownership from previous main owners Creades, Karl-Johan Persson, chairman of the board at H&M, Eequity, former PriceRunner CEO Nicklas Storåkers and current CEO Mikael Lindahl.
Last week, Klarna introduced a new sub-brand and business unit ‘Klarna Kosma’. The new launch intends to harness the rapid growth of its Open Banking platform.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.