February 6, 2017 / 7:19 AM / 3 years ago

Swedish payments firm Klarna buys Germany's BillPay

People gather in Klarna office in Stockholm, Sweden February 17, 2016. REUTERS/Mia Shanley/File Photo

STOCKHOLM (Reuters) - Swedish payments firm Klarna, one of Europe’s most highly valued tech startups, said on Monday it is buying German online payment company BillPay.

“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,” Klarna said in a statement.

BillPay has over 140 employees, offering services in Germany, Austria, Switzerland and the Netherlands.

Reporting by Olof Swahnberg; Editing by Daniel Dickson

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