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Klarna Buys Online Commerce Startup Hero

The biggest European startup Klarna, which increased its valuation in June up to $45.6 billion, said it made a deal to buy e-commerce technology firm Hero Towers Ltd., a move that will expand its foothold in online shopping. According to Wall Street Journal the deal amount for $160 million.

Hero — the largest virtual shopping platform that operates in 30 countries. Hero’s clients include brands like Nike, Levi’s and Sephora. The platform allows online store buyers to communicate with sellers via video or text chat, learn details about the product, and take a closer look. Hero’s goal is to make online shopping as convenient as traditional shopping.

According to Klarna CEO Sebastian Siemiatkowski, the acquisition will improve the customer experience for 90 million platform users and bring more buyers for the 250,000 retailers Klarna partners with.

The current return for the Global Technologies Private Portfolio clients who bought Klarna shares at the end of last year is 256%.

Klarna  is a Swedish fintech company that offers effective and convenient financial solutions for buyers of online stores under the motto “buy now, pay later.” Has the status of the most expensive startup in Europe.

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