Swedish payments firm Klarna said on Friday it has acquired e-commerce technology firm Hero Towers Ltd, with the Wall Street Journal reporting that Klarna will pay about $160 million for the deal.
“All 100+ Hero employees will join Klarna”, the Swedish payments firm said in a statement on Friday, without giving any financial details.
In June, Klarna raised $639 million from a group of investors led by SoftBank’s Vision Fund II, lifting its valuation to about $46 billion.
Klarna, which allows shoppers to buy online through its merchant partners and settle their dues in installments via “buy now, pay later” (BNPL), became Europe’s most valuable startup in March when a $1 billion fundraising valued it at $31 billion.
After fundraising, its valuation rose in June to about $46 billion, higher than several of the region’s major banks.
London-based Hero connects online shoppers with retail workers via text messages, videos and online chat rooms.
By Kanishka Singh; editor: Sandra Maler