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Klarna buys Germany’s BillPay as it reshapes online payments across Europe

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Payment company Klarna has bought 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, comments: “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.”

He continues: “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, adds: “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.

Klarna is one of Europe’s leading payments providers, that aims to make the payment process simple, smooth and safe for customers and its merchant partners. The company founded in 2005 was recently named as one of the top disrupter companies in the world by CNBC.

Klarna works together with 65,000 merchants to offer payment solutions to more than 45 million users in Europe and North America. Klarna has 1,500 employees and is active in 18 countries.

BillPay is one of the leading German online payment providers, licensed by BaFin under the Payment Services Supervision Act (ZAG) and was founded in 2009. It’s headquartered in Berlin, with over 140 employees, and has become an international company offering its services and products in Germany, Austria, Switzerland and the Netherlands.

BillPay allows online shops to offer invoice, direct debit and flexible pay later instalment so that customers can easily, safely and conveniently pay with their favorite payment method while shopping online. For merchants BillPay guarantees full payment and accepts the complete risk. More than 5,000 online shops and 12 million customers are using the BillPay services.

 

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