Swedish e-commerce payments company Klarna Bank has completed the acquisition of German online payments firm BillPay.

Founded in 2009, BillPay allows online shops to offer invoice, direct debit and flexible pay later installment option. The company offers services in Germany, Austria, Switzerland and the Netherlands.

Klarna co-founder and CEO Sebastian Siemiatkowski said: “We are delighted that BillPay will now officially join Klarna Group. Combining our talent and technology will enable Klarna to continue to push the boundaries of innovation and product offering in existing and new markets with increased speed and confidence.”

Klarna DACH managing director Marc Berg commented: “We are convinced that Klarna and BillPay together will now deliver even more attractive payment solutions to our merchants and customers in the region. We look forward to welcoming the experienced and dynamic BillPay team in Berlin into the Klarna Group.”

The deal was first announced in February this year.