Fintech/Analysis/ Klarna’s €930m acquisition is a step towards ‘Google for shopping’ The Pricerunner acquisition is the Swedish fintech’s fifth since July as it looks to offer a broader range of services to shoppers By Mimi Billing 2 November 2021 Klarna acquires price comparison site Pricerunner to add features in its buy now pay later app. Klarna acquires price comparison site Pricerunner to add features in its buy now pay later app. \Fintech With fraudsters storming the internet, digital gatekeeping is booming By Sifted 6 May 2022 Fintech/Analysis/ Klarna’s €930m acquisition is a step towards ‘Google for shopping’ The Pricerunner acquisition is the Swedish fintech’s fifth since July as it looks to offer a broader range of services to shoppers By Mimi Billing 2 November 2021 Klarna announced today that it acquired the Swedish comparison site Pricerunner for €930m in a move designed to broaden its shopping experience. The purchase gives a glimpse of the kind of one-stop-shopping company the Swedish fintech has an eye on becoming. It’s not the first time Klarna has had a go at price comparison. It launched its own comparison feature earlier this year, but it was criticised for not being that good at finding the products that users are searching for. Pricerunner has 18 million monthly users and Klarna can expect that the product does what it should. The company was founded in 1999 by Kristofer Arwin, Martin Alexandersson and Magnus Wiberg, members of the first generation of tech entrepreneurs in Sweden. They exited the company in 2004. An alternative to Amazon, Google and Facebook Some Klarna-watchers have pegged the fintech’s aim at becoming a “new Amazon” marketplace. But the Pricerunner acquisition suggests the company is looking at a different path: a Google for shopping. That means helping people discover new products instead of just helping them buy them. David Fock, Klarna’s chief product officer, said of the acquisition: “It further cements that Klarna will not be a marketplace but a viable and competitive alternative for retail partners vs Amazon, Google and Facebook.” The failure to become Amazon’s check-out option for “buy now, pay later” (BNPL) this year may have spurred Klarna’s wish to distinguish their business. Amazon instead chose to partner with Affirm for BNPL. Klarna has been on its own shopping spree; this is the fifth acquisition that the fintech has made since the beginning of July, making it one of the most acquisitive private tech companies in Europe. And it has an impressive war chest for purchases — Klarna raised $639m in June. Acquisitions include UK-based social shopping platform Hero for an estimated $160m, German discount shopping app Stocard for €113m and Swedish influencer marketing platform Apprl and travel planner Inspirock last month for undisclosed amounts. Whether the growing number of acquisitions is a sign that the much-discussed flotation is getting closer is difficult to say. But it shows the fintech moving further away from being just a simple BNPL disruptor. Mimi Billing is Sifted’s Nordic correspondent. She also covers healthtech, and tweets from @MimiBilling Related Articles Member We’re nothing like Robinhood, says Berlin-based broker Trade Republic By Miriam Partington in Berlin Click here to read more Member The European startups making a mint from the bitcoin boom By Sifted reporters Click here to read more Neobanks latest ploy involves *ultra* cheap insurance By Isabel Woodford Click here to read more Starling Bank’s top investor cashes in shares as fintech hits £1bn+ valuation By Isabel Woodford Click here to read more Most Read 1 \Consumer Building a billion dollar business by fixing clothes 2 \Startup Life What’s it like being a startup founder over 40? 3 Member \Venture Capital The 10 fastest growing Estonian startups in the past 12 months 4 \Startup Life Startups now have another alternative to VC: growth through debt 5 \Startup Life Ravio hopes its transparent salary data can solve your hiring woes 2 Join the conversation Subscribe newest oldest Notify of new follow-up comments new replies to my comments Paul Humphreysfor €930m? Mimi BillingFor 9,2bn SEK to be more precise.
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