Klarna announced on Tuesday (Nov. 2) that it will acquire U.K.-based price comparison service PriceRunner for 1.06 billion Swedish crowns ($124.36 million) in a deal that expands the functionality for users of Klarna’s buy now, pay later (BNPL) service.
In a statement, Klarna Chief Product Officer David Fock said that “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 versus Amazon, Google and Facebook.”
PriceRunner CEO Mikael Lindahl said: “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. 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.”Pymnts