Klarna today announces the acquisition of German online payment company BillPay, strengthening its position as one of the leading payment providers in Europe and accelerating its growth in the region.

BillPay is one of the leading German online payment providers and was founded in 2009. It’s headquartered in Berlin, with over 140 employees, offering its services and products in Germany, Austria, Switzerland and the Netherlands.

Sebastian Siemiatkowski, co-founder and CEO of Klarna, commented:

“We are excited to be working with BillPay and their talented team in Berlin. By combining our skills and expertise, and leveraging BillPay’s deep market knowledge, product features and consumer offering, we are confident that we can offer even more innovative payment services to our customers.”

“Germany is one of the largest e-commerce markets in the world, and we are delighted to have strengthened our position here with this acquisition.”

BillPay CEO, Nelson Holzner, commented:

“We are thrilled to join the Klarna team. Together we will have a market leading position in Germany, Austria and Switzerland, and will be able to offer our merchants and users highly attractive payment options in more international markets in an ever increasing cross-border e-commerce environment.”

The acquisition is subject to approval by the Federal Financial Supervisory Authority in Germany.