Swedish payments provider Klarna has acquired social shopping platform Hero for an undisclosed sum.
The deal will see Klarna 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”.
Hero’s entire workforce of over 100 employees will join Klarna.
Klarna CEO Sebastian Siemiatkowski said he saw a “huge opportunity” from the acquisition. “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 personalised shopping journey,” he said in a release.
Hero was founded in 2015 and is based in London and New York. The company said it aims to “create a more personal and convenient way to shop that reflects how consumers interact today, bringing the concept of in-person customer service to e-commerce”.
The business currently works with the likes of Levi’s, Chloé, Harvey Nichols, Nike and JD Sports.
According to Hero, an estimated 28 percent of the US population is expected to be social shopping by 2023.
“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,” said Hero founder Adam Levene.
“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.”