Klarna builds out retailer support with APPRL acquisition
Klarna has made its second acquisition in quick succession, buying Stockholm-based APPRL, a platform that links creators and retailers.
The bank is building an ecosystem of retailer support solutions that includes a comparison shopping service, AI-driven styling engine and content creation platform and, added recently, Hero, a conversational commerce offering.
APPRL enhances Klarna’s marketing services by allowing retailers to connect directly to relevant content creators to create social shopping content and track campaign results.
APPRL describes itself as providing “end-to-end influencer marketing software, tailored for the needs of e-commerce brands, where marketers can find high-performing creators, collaborate efficiently and track performance in real-time”.
Its platform enables consumers to shop influencer content from retailers including Harvey Nichols, Shopbop, Dr Martens and Luisaviaroma.
Sebastian Siemiatkowski, CEO of Klarna, comments: “By adding APPRL to Klarna’s existing retailer support expertise, we see a huge opportunity to create an enriching and informative shopping experience for consumers everywhere while accelerating retailer growth.”
Martin Landén, CEO of APPRL says: “With APPRL’s platform together with Klarna’s scale, incredible talent and portfolio of marketing services, we will be able to offer retailers an end-to-end influencer and performance marketing solution that they won’t be able to find anywhere else.”
Social commerce is expected to account for $84 billion of US retail sales by 2024, according to Business Insider, with 48% of US Millennial and Gen Z internet users already having purchased products through social channels.
Social shopping is growing across all demographics and eMarketer predicts that by 2022, 28% of the entire US population is expected to shop across social channels.
Klarna claims over 90 million global active users and 2 million transactions a day, with over 250,000 global retail partners.
Founded in Stockholm in 2005, it has over 4000 employees and is active in 17 markets. It offers direct payments, pay after delivery options and instalment plans via a one-click purchase experience.
APPRL has offices in London and São Paulo and was set up to create a platform to allows content creators and brands to work together in the most frictionless way possible through AI, scalable technology and user-centric design. Its team is made up of 25 social media experts, data scientists, strategists, engineers, marketers and innovators.