Stocard Acquisition: Key Details, Impact, and What Comes Next

Klarna's acquisition of Stocard marks a significant move in the fintech industry. By integrating Stocard's mobile wallet technology, Klarna aims to enhance its product offerings and expand its global footprint. This strategic acquisition not only broadens Klarna's reach but also promises to deliver a seamless shopping experience for millions of consumers worldwide.

What Is Stocard?

Founded in 2011, Stocard is a mobile wallet application that allows users to add and organize all their loyalty cards in one place. Its core services include rewards collection, discounted gift cards, and automatic updates on coupons and points. Unique features such as the card assistant, which reminds users to use their loyalty cards in-store, and its integration with Klarna, set Stocard apart in the market. The app boasts over 49 million active users, reflecting its widespread adoption.

Who Acquired Stocard?

Klarna is a prominent financial technology company that provides innovative payment solutions for both consumers and merchants. Key products include the Klarnakortet, which offers flexible payment options and benefits like no foreign transaction fees, and the Klarna App, which integrates shopping, price comparison, and financial management. Additionally, Klarna offers PriceRunner for product price comparisons. The company is a leading player in the fintech market, known for its extensive collaborations with retailers and its user-friendly approach to shopping and payments.

When Was Stocard Acquired?

Klarna acquired Stocard in July 2021. This acquisition occurred during a period of significant activity in the fintech industry, with Klarna also acquiring UK-based HERO earlier that month. The timing reflects Klarna's strategy to expand its market presence and integrate new technologies, aligning with broader industry trends of consolidation and innovation in digital payment solutions.

Why Was Stocard Acquired?

• Market Expansion: The acquisition of Stocard significantly broadens Klarna’s global footprint by adding 47 million consumers across 25 new markets, including 1.7 million in the UK. This move aligns with Klarna's strategy to expand its market reach and customer base, leveraging Stocard's established presence in these regions.
• Technology Integration: Stocard’s mobile wallet technology, which includes features like loyalty card bundling and integrated mobile payments, will be embedded into the Klarna app. This integration is expected to create new product synergies and enhance the user experience by combining the strengths of both platforms.
• Competitive Advantage: By acquiring Stocard, Klarna strengthens its position against competitors through an enriched product offering. The integration of Stocard’s technology and user base allows Klarna to offer unique value propositions, such as combining loyalty card management with flexible payment options, thereby attracting and retaining more customers.

Acquisition Terms

• Acquisition Price: Approximately €110 million
• Payment Method: Not publicly disclosed
• Key Conditions or Agreements:
  • Stocard will adopt Klarna’s “Smoooth” brand identity.
  • Stocard’s app will continue to be available for free to its 47 million active consumers across 45 markets.
  • Stocard’s team will integrate into Klarna’s product teams to develop new features.
  • The acquisition aims to create commercial and technological synergies between Klarna and Stocard.
  • Klarna plans to embed Stocard’s payment and marketing technology into the Klarna app.

Impact on Stocard

The acquisition of Stocard by Klarna has led to significant changes in operations and management. Stocard has adopted Klarna’s “Smoooth” brand identity, and its team has integrated into Klarna’s product teams to develop new features for both the Stocard and Klarna apps. This integration aims to leverage Klarna’s resources and talent to enhance the user experience and create new product synergies. The rebranding aligns Stocard with Klarna’s design language and mission, promising a seamless transition for both employees and users.

In terms of product offerings, Stocard will continue to provide its mobile wallet services, including loyalty card storage, coupon collection, and mobile payments. However, the app will be enriched with new features as it integrates deeper with Klarna’s platform. Employee reactions have been positive, with Stocard’s founder, David Handlos, expressing enthusiasm about the acquisition. While direct customer reactions are not extensively documented, the enhanced user experience and new features are expected to attract and engage both existing and new users. For founders considering business transitions, tools like Sunset can assist in managing such processes compliantly and efficiently.