Klarna today announced it acquired BillPay, a German online payment company that’s active in several European countries. With the acquisition, Klarna wants to strengthen its position in Europe and further grow in the region.
The fact Klarna acquired BillPay doesn’t really come as a surprise. In November last year, it was reported Klarna wanted to acquire BillPay, after owner Wonga explored a sale of BillPay following a fresh takeover approach for the British short-term lender.
Strengthening its position in Germany
With BillPay, which allows online shops to offer invoice, direct debit and flexible pay later instalment, Klarna takes over a company that has over 140 employees and offers its services and products in Germany, Austria, Switzerland and the Netherlands. “By combining our skills and expertise, we are confident that we can offer even more innovative payment services to our customers”, says Sebastian Siemiatkowski, co-founder and CEO of Klarna. “Germany is one of the largest ecommerce markets in the world, and we are delighted to have strengthened our position here with this acquisition.”
Nelson Holzner, CEO of BillPay, says he’s thrilled to join the Klarna team and that together, they will have a market leading position in Germany, Austria and Switzerland. “We will offer our merchants and users highly attractive payment options in more international markets in an ever increasing cross-border ecommerce environment.”