Klarna acquires online trip planner Inspirock

Buy Now, Pay Later (BNPL) firm Klarna has acquired online trip planner Inspirock.

The travel firm, founded in 2012, said 25 million travellers use it to explore potential destinations and plan their itineraries.

The firms did not disclose the financial terms of the deal.

Inspirock, based in East Palo Alto, California, was founded by chief executives Anoop Goyal and Prakash.

Inspirock previously raised $3 million in venture capital funding in 2015 from Indian travel booking website MakeMyTrip.

Klarna has been active in terms of making acquisitions this year. It has purchased influencer marketing company Apprl, mobile wallet Stocard, virtual shopping platform HERO, and fashion-focused artificial intelligence engine Toplooks.ai.

The online travel agent market is expected to reach $833.52 billion by 2025, growing at an annual rate of 10 per cent, according to statistics from The Business Research Company.

The news comes at a pivotal time for the UK BNPL industry; the HM Treasury launched its long-awaited consultation on the regulation of BNPL last week.

The consultation seeks views on a range of regulatory controls that could be put in place for BNPL, which Sebastian Siemiatkowski chief executive at Klarna described as a “welcome step forward.”

"For customers, this makes the whole journey from inspiration to planning and preparing for a trip simpler, less stressful and more fun, while enabling our retail partners to better reach and engage with their audiences by offering more personalised

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