Swedish financial technology firm Klarna has acquired social shopping platform Hero in an effort to enhance its in-store experience for consumers.

Based in London and New York, HERO provides advice and instant shoppable content created from retailers’ physical stores to offer a more personal and convenient way of shopping.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The platform serves a range of leading brands, including Levi, rag and bone, Chloé, NIKE and JD Sports.

Klarna CEO Sebastian Siemiatkowski said: “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.

HERO founder Adam Levene said: “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.”

Following the acquisition, Klarna will take on all HERO’s employees. HERO’s existing products will be made available to Klarna’s retail partners with immediate effect.

The financial terms of the transaction have not been disclosed.

Klarna has more than 90 million global active users and serves more than 250,000 global retail partners, including H&M, Saks, Sephora, Macys, IKEA and Expedia Group. Two million transactions are carried out on the platform a day.

The company recently acquired comparison shopping service provider Shoptail, as well as Toplooks, an AI-powered styling engine that suggests complementary items to consumers across their digital channels.