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Klarna buys German shopping app Stocard

Klarna buys German shopping app Stocard

Flush from a recent $639 million mega-raise, BNPL giant Klarna has reportedly splashed €113 million on German discount shopping app Stocard.

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 instore visits. The app, which also includes an integrated payment function, has a claimed user base of 60 million.

Klarna has yet to comment on the acquisition, which is being widely reported by the German press.

The deal comes hard on the heels of Klarna's takeover of social shopping startup Hero earlier this month.

In June, Klarna raised $639 million in a funding round led by SoftBank's Vision Fund 2 that values the buy now, pay later juggernaut at $45.6 billion.

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