The Buy Now Pay Later Service Klarna Acquires a Social Shopping Platform
Klarna just announced another acquisition as it continues to expand beyond its core Buy Now-Pay Later (BNPL) platform. Its latest buy is for U.K. social shopping firm Hero. Other recent acquisitions include Nuji and Toplooks.ai in the past year. This reinforces its strategy to add e-commerce and AI resources that enhance customer engagement for retailers.
These areas are synergistic with BNPL shopping activity that continues to surge in the U.S. market. Klarna’s valuation has been rapidly rising, now pegged at $31 billion, which means there is more room in its shopping cart.
The following excerpt from a Wall St. Journal article reports more on the topic:
Klarna Bank AB, one of Europe’s most valuable financial startups, said it struck a deal to buy e-commerce technology firm Hero Towers Ltd., a move that will expand its foothold in online shopping.
