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Sweden’s Klarna buys influencer marketing platform

Swedish payments firm Klarna said on Tuesday it had acquired influencer marketing software firm APPRL as it looked to tap into strong growth in shopping across social media channels.

Klarna said Stockholm-based APPRL, which helps content creators and retailers cooperate, was the latest addition to its growing roster of retailer marketing services. The financial details of the deal were not disclosed.

Klarna, which allows shoppers to buy online through its merchant partners and settle their dues in instalments via a “buy now, pay later” process, said 28% of the United States’ population were expected to shop across social channels by 2022.

“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,” Klarna Chief Executive Sebastian Siemiatkowski said in a statement.

Klarna, which recently announced the acquisition of e-commerce technology firm Hero Towers Ltd, last month raised $639 million from a group of investors led by SoftBank’s Vision Fund II, lifting its valuation to about $46 billion.

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