Buy Now, Pay Later (BNPL) provider Klarna has announced two new growth tools for retailers and creators.

Following a successful rollout of Ads Manager in the US, the company has now launched the product in the UK and Sweden. Ads Manager is described as a self-service advertising platform for retailers to better engage with Klarna’s shopper audience.

Meanwhile, the company has brought Creator Shops, a platform for creators on Klarna’s network to launch and operate their own storefronts on Klarna.com, to the US after it first launched in Europe.

Klarna said the tools open new revenue channels for large and small retailers, especially during times when they’re looking for extra support to grow their businesses, drive traffic and increase sales.

"Building on our suite of marketing and ad solutions for retailers, Klarna’s Creator Shops and Ads Manager continue to transform the company beyond BNPL into a growth partner and retail media network within the industry,” said David Sandstrom, chief marketing officer at Klarna.

“Our combined network of over one million retail partners and creators globally now have even more powerful ways to reach Klarna’s 150 million high-intent shoppers, while consumers can enjoy a more relevant and personalised shopping experience."

Klarna recently launched an AI shopping lens tool in the UK that promises to help shoppers "instantly" find out where to buy items based on photos.

All three tools are part of the company's attempts to broaden its offering away from solely being viewed as a BNPL provider at a time when the company is losing market share to Big Tech players like Apple and retailers who are themselves offering financing options for large purchases.

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