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Klarna launched a super-app

Klarna is becoming more than just a market-leading BNPL service, but a super app for shopping. On November 3, Klarna Superapp became available in the Apple Store and Google Play in the US, Australia, the UK, and 10 EU countries.

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256% is the current profitability of clients of the Global Technologies Private Portfolio fund, who acquired Klarna shares in December 2020, according to the company’s valuation of $12.8 billion. The company’s valuation today is more than $45.6 billion.

According to the company press release, the main feature of the new service is that users can pay for purchases in installments at any online store, even if it is not a partner of Klarna. This is implemented through the browser built into the application and a one-time virtual payment card.

Klarna launched a super-app

In addition, super application users can:

  • create collections from the products they like,
  • receive price cut notifications,
  • track the stages of delivery,
  • issue a return,
  • receive personal recommendations on the selection of goods,
  • distribute the budget for purchases during the month, etc.

According to Business Insider, the super app will help the company grow its audience and revenue and give it an edge over competitors such as Affirm, AfterPay, and PayPal.

Obviously, the company has been preparing for the launch of a super application for a long time, buying up suitable startups. The new takeover took place on the eve of the launch: on November 2, the price comparison platform PriceRunner was acquired for $1 billion.

According to David Fock, Klarna Product Director, the company intends to become an attractive partner for retailers than Amazon, Google, and Facebook.