Klarna, an international retail bank, has entered an agreement to acquire PriceRunner.
As mentioned in a release, PriceRunner will aim to bring new features in the form of product reviews, rich product discovery and price comparisons to the Klarna app in order to improve the shopping, payments and banking experience for clients internationally.
Klarna‘s shopping experience from inspiration and product selection, to flexible payments and delivery, tracking and returns will be “elevated by PriceRunner’s daily price updates, reviews, professional tests and intelligent filtering options,” the announcement noted.
This should help with enabling a more engaging experience for Klarna’s clients. Klarna will be adding PriceRunner’s functionality to its offering while Klarna’s retail partners will benefit from enhanced behavior insight, as well as “increased website traffic from high intent consumers and optimized marketing opportunities to further drive their growth,” the announcement explained.
David Fock, Klarna’s Chief Product Officer stated:
“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 PriceRunner team is a talented, passionate group, which will be a perfect fit and we are excited about what we can achieve together.”
Mikael Lindahl, PriceRunner’s Chief Executive Officer remarked:
“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.”
The acquisition is “subject to approval by regulatory authorities,” the update confirmed.
