Klarna acquires HERO for an undisclosed sum

SaaS News -Klarna acquires UK’s social shopping(source: SaaS Industry) startup Hero(source: SaaS Industry)
At a Glance

In an undisclosed agreement, Hero, a virtual shopping platform, was bought by Klarna, an eCommerce payment solutions platform. Every day, Klarna handles over 2 million transactions and has over 90 million active users globally. HERO will be taken to Klarna’s 250,000 retail partners, according to the company.

Klarna, an eCommerce payment solutions platform, has announced that it has acquired Hero, a virtual shopping platform. The financial details of the deal were undisclosed.

Klarna has said that HERO will be introduced to its 250,000 retail partners, allowing their in-store employees to quickly transform into content producers, giving reviews, real-time guidance, and deeper, more engaging, and instructive material surrounding items. In addition, all of HERO’s 100+ workers will join Klarna.

HERO, a social shopping platform founded by Adam Levene in 2015, provides users with inspiration, guidance, and shoppable content sourced straight from merchants’ physical storefronts. Global brands such as Levi’s, rag & bone, Chloé, and Harvey Nichols are among its clients, and the company shares numerous retail partners with Klarna’s current network, including Nike and JD Sports.

Klarna is a company we’ve long admired. They have built an iconic brand and proposition and a unique culture that makes it the perfect home for our team. By joining forces, we are able to bring our technology to even more merchants and consumers across the world, making online shopping more social, interactive, and ultimately more human.”

Mr. Levene, Founder of HERO

Klarna, which was founded in 2005 in Stockholm, Sweden, and is managed by Sebastian Siemiatkowski, has over 90 million active users worldwide and processes over 2 million transactions every day. 

Immersive shopping experiences are now expected by consumers when shopping online and forward-thinking brands want to provide consumers with a rich, interactive way to shop for their products. With HERO, we share an ambition to elevate the shopping experience through the convergence of online and in-store shopping experiences, supporting retailers to inform and engage consumers in new ways. We see a huge opportunity to leverage HERO’s existing platform and expertise to allow in-store retail professionals to become global brand ambassadors. This will unlock growth for retailers by creating a new hybrid shopping experience that enables consumers to make informed purchasing decisions as part of an engaging and personalized shopping journey.

Mr. Siemiatkowski, CEO of Klarna

With HERO, Klarna can support retailers in empowering their in-store colleagues to serve a global audience, enhancing e-commerce with the benefits of physical retail. Longer term, we see opportunities for Klarna’s 90 million global consumers to share their shopping expertise as part of a social shopping ecosystem that defies physical and online boundaries, aligned to Klarna’s mission to ensure people can shop, bank, and pay in ways that suit them and their lives today. We look forward to welcoming the HERO team to Klarna.

David Sandström, CMO of Klarna

Klarna has H&M, Saks, Sephora, Macy’s, IKEA, Expedia Group, Samsung, ASOS, Peloton, Ralph Lauren, Abercrombie & Fitch, Nike, and Shein, among its 250,000 worldwide retail partners. Klarna is one of the world’s most valuable private fintech, with a $45.6 billion valuation.

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