Klarna - Europe’s most expensive fintech startup - announced it acquired PriceRunner leading comparison shopping service. The company plans to integrate the service to its app, Bloomchain.ru reports.

Swedish investment firm Creades told MarketWatch that it has sold its entire 12% holding in PriceRunner to Klarna Holding in a deal valued at $124 million. Based on these data, the acquired company is valued at $1.03 billion.

Klarna’s consumers will be able to view product reviews, feedbacks and compare prices in different stores. Klarna B2b partners will receive new statistics on customer behavior, traffic growth and the opportunity to optimize their marketing strategy.

“Klarna will not be a marketplace, but a viable and competitive alternative for retail partners vs Amazon, Google and Facebook,” said David Fock, Klarna's Chief Product Officer.

The fintech company also announced the launch of a new application. Now customers will be able to arrange installments even in those stores that are not Klarna’s partners.



To note, Klarna has two options of buy now, pay later payment - the buyer can split the cost of the purchase into 4 interest-free payments, pay every 2 weeks or pay for the item in 30 days after the purchase.

PriceRunner service has been operating since 1999. The customers can compare 3.4 million products from 22,500 retailers in 25 countries. PriceRunner’s revenues for the fiscal year ending on Sep 30, 2021, amounted to $53.7 million. PriceRunner employs more than 170 people. The monthly number of active users of the service is 18 million people.

The partner of Fintech section is