Klarna completes acquisition of PriceRunner

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Apr 04, 2022, 02:13 ET

PriceRunner will bring new features to the Klarna app globally to help consumers save time and money, and make informed decisions to take control of their finances

STOCKHOLM, April 4, 2022 /PRNewswire/ -- Klarna, a leading global retail bank, payments, and shopping service today announced the completion of its acquisition of PriceRunner, the leading comparison shopping service in the Nordic region with operations in Sweden, Denmark, Norway and the United Kingdom.

PriceRunner will bring new features to the Klarna app globally in the form of rich product discovery, price comparisons and product reviews to help consumers save time and money, and make informed decisions so they can take control of their finances. Klarna's 400k+ global retail partners as well as PriceRunner's retail partners will benefit from increased website traffic from high intent consumers and optimized marketing opportunities to further drive their growth.

All 200+ PriceRunner employees in Sweden, Denmark and Norway are now officially part of the Klarna family.

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."

Mikael Lindahl, CEO of PriceRunner, said: "We are really excited about this next chapter in PriceRunner's journey, continuing it with a strong, global player like Klarna. I know that we can create the very best shopping experience for consumers together and am really excited for how our company will grow in the future together with Klarna."

Klarna will assume complete ownership from previous main owners Karl-Johan Persson, chairman of the board at H&M, Eequity, former PriceRunner CEO Nicklas Storåkers and current CEO Mikael Lindahl.

For media enquiries, please contact:

Klarna
Candice Macdonald
E: [email protected]
T: +44 (0) 7971 797208

Mikael Lindahl
CEO PriceRunner
E: [email protected]
T: +46 (0) 70 744 74 43

About Klarna

Since 2005 Klarna has been on a mission to revolutionize the retail banking industry. With over 147 million global active users and 2 million transactions per day, Klarna is meeting the changing demands of consumers by saving them time and money while helping them be informed and in control of their personal finances. Over 400,000 global retail partners, including H&M, Saks, Sephora, Macys, IKEA, Expedia Group, and Nike have integrated Klarna's innovative technology to deliver a seamless shopping experience online and in-store. With over 5,000 employees, Klarna is active in 45 markets and is one of the most highly-valued private fintechs globally, with a valuation of $45.6 billion. For more information, visit Klarna.com

About PriceRunner

PriceRunner is the largest independent comparison shopping service in the Nordics. The company operates in four countries and compares 3.7 million products from 22,500 stores in 25 different countries. At PriceRunner, consumers can compare products, prices, specifications, read professional product tests and find out how other customers reviewed products and stores. We have roughly 200 employees in Denmark, Norway and Sweden. PriceRunner is a completely independent company. We are not owned by any merchants and are not dependent on them, retailers or other organizations with an interest to spread biased information. Our goal is to help consumers find the right products at a better price. We help millions of consumers every month to find better and cheaper products while they at the same time save money by using PriceRunner's services.

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SOURCE Klarna Bank AB (publ)