Klarna is in acquisition fever; acquires another startup - Stocard

Klarna, the Swedish based fintech has acquired Mannheim based startup Stocard for over $100 million making it the second acquisition in less than one month.

Inclusion Times
Inclusion Times

Klarna, the Swedish based fintech, has acquired Mannheim based startup Stocard for over $100 million, making it the second acquisition in less than one month. At the beginning of this month, the company acquired Hero, a social shopping platform designed to provide consumers with inspiration, advice and immediately shoppable content produced directly from retailers' physical stores.

Stocard provides an app for bundling multiple bank cards and present users with discount deals from a network of merchants, who in return receive location-based data on app purchases and in store visits.

Last month, the company raised over 600 million dollars and planned to scale its activities globally. Klarna's acquisition spree reflects the plan for the investments they secured last month.

Stocard offers its 60 million users worldwide a bundling of customer cards in an app, in which it informs about discounts and promotions. An integrated payment function has been available for several years. Investors of the Mannheim-based company included Carsten Maschmeyer with his fund Alstin or High-Tech Gründerfonds.

According to Finance Forward, 31 million U.S. dollars have flowed into Stocard so far.

Klarna is currently valued at over 45 billion U.S. dollars and is used by 90 million customers. The company has about 4,000 employees, with several hundred in the U.S. in New York and Los Angeles. It also has offices in Stockholm, London, Manchester, Berlin, Madrid and Amsterdam.

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