Klarna's latest acquisition comes at is looking to build out a stronger presence across Europe in payments. On the other hand, Wonga appears to be retreating from an attempt to pivot from lending to payments.
Some chopping and changing is afoot in the world of payments in Europe. Today, Klarna, the startup out of Sweden that works with online merchants to enable flexible payment options, confirmed that it has acquired BillPay, a payments company based in Germany, from its previous owner Wonga, the startup that once achieved notoriety for predatory payday loans. The companies are not disclosing the value of the deal, but our close sources corroborate a number mentioned in a couple of reports from over the weekend that placed the price at around £60 million ($75 million). Klarna itself was last valued at $2.25 billion back in 2015.