FinTech unicorn Klarna snaps up social shopping venture HERO

Buy now pay later big hitter Klarna has acquired social shopping platform HERO. Terms of the deal were not disclosed.

In a press release, Klarna says it 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 to bring the best of in-store shopping to the online experience for consumers.”

HERO, based in London and New York, was founded in 2015 and its client roster includes Levi, rag & bone, Chloé, and Harvey Nichols.

It also shares a number of retail partners with Klarna’s network, such as Nike and JD Sports. All 100+ HERO employees will join Klarna.

What is it about #eCommerce that shoppers love so much? 🤔 🛍

We listed the top 7 things consumers love (and hate) when shopping online👇https://t.co/cYR706gnL5
— HERO® (@usehero) July 8, 2021

Sebastian Siemiatkowski, CEO at Klarna, which recently raised $639 million at a post-money valuation of $45.6 billion, comments: “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 personalised shopping journey.”

Adam Levene, Founder at HERO, comments: “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.”