Klarna, the Swedish online payments group which offers ”buy now, pay later” solutions, has acquired the technology and team of the startup Woilà, whose app allows consumers to get refunds if the price of a product falls after an online purchase is completed.
Klarna said the acquisition, for which terms were not released, will “further strengthen its value proposition to consumers.” Woilà, which has processed about $50 million worth of transactions so far in 2020, was set up in 2017 and launched its app in May 2019. Its platform uses algorithms to identify price drops, price guarantees and vouchers. Like Klarna, Woilà is headquartered in Stockholm.
Earlier this year, Woilà raised €2.8 million to finance domestic and international growth, in a fundraising round led by Scandinavian media group Schibsted.