Swedish investment firm Creades said on Tuesday it had agreed to sell price comparisons company Pricerunner to Swedish payments firm Klarna for 1.06 billion Swedish crowns ($124.36 million).
Klarna will pay 40% of the price in cash and the rest with Klarna shares, Creades said in a statement.
Klarna, a “buy now, pay later” company expected to make its stock market debut in the coming months, said separately that Pricerunner would bring product reviews, rich product discovery and price comparisons to the Klarna app.
“The acquisition will serve to strengthen our bank, card and payment services and support a competitive global landscape,” it said in a statement.
Creades said it expected to finalise the deal in the first quarter of 2022 and that it would own around 43,000 shares in Klarna following the transaction.
New research from The Strawhecker Group analyzes key trends and consumer attitudes.
Download a free infographic covering several findings from the full report.
Consumers have increasingly adopted Buy Now, Pay Later (BNPL) services for multiple reasons; a desire for financial flexibility, a way to avoid incurring credit card debt, or to purchase items outside of their budgets. However, despite its popularity, consumer debt and missed payments have led to calls for additional research and regulation. Read the press release.
To take a closer look, The Strawhecker Group (TSG) conducted a survey of over 1,500 U.S. consumers in early 2021 with the goal of understanding domestic attitudes and perspectives on the use of BNPL services. The complete findings, a selection of BNPL provider profiles, and market landscape details can be found in the firm’s new report Buy Now, Pay Later: An Analysis of Key Trends and Consumer Attitudes.
Highlights of this extensive 81-page report include:
- Buy Now, Pay Later Background
- Key Players in the Buy Now, Pay Later Space
- Buy Now, Pay Later Consumer Survey
- Concluding Thoughts: The Future of Buy Now, Pay Later