Klarna, a global retail bank, payments and shopping service, acquired Hero, a London and New York based provider of a social shopping platform.
The amount of the deal was not disclosed.
Founded in 2015 by Adam Levene, Hero provides a social shopping platform designed to provide consumers with inspiration, advice and shoppable content produced directly from retailers’ physical stores. Its client roster now includes global brands such as Levi, rag & bone, Chloé, Harvey Nichols and shares a number of retail partners with Klarna’s existing network such as Nike and JD Sports.
With the acquisition, Klarna will introduce Hero to its 250,000 retail partners, allowing their in-store teams to become content creators instantly, offering reviews, real-time advice and richer, more engaging and informative content around products.
All 100+ Hero employees will join Klarna.
Founded in 2005 in Stockholm, Sweden, and led by Sebastian Siemiatkowski, CEO, Klarna provides a platform for people who want to shop, pay and bank and with a single brand. Over 250,000 global retail partners, including H&M, Saks, Sephora, Macys, IKEA, Expedia Group, Samsung, ASOS, Peloton, Ralph Lauren, Abercrombie & Fitch, Nike and Shein have enabled Klarna’s shopping experience online and in-store. The company was has over 4,000 employees and is active in 17 markets. It has been backed by Sequoia Capital since 2010 and more recently, SilverLake, Dragoneer, Bestseller Group, Permira, Ant Group, HMI Capital, TCV, NorthZone, Commonwealth Bank of Australia, Merian Chrysalis Investment Company Limited, funds and accounts managed by BlackRock amongst others.
FinSMEs
11/07/2021