Flatpay
Flatpay is a company based in Denmark. Builders in Fintech has recorded 1 equity round for Flatpay: a series b round of €45M on 17 April 2024.
Added ·
- €45M
- Series B · €45M · 17 April 2024 · led by Dawn Capital
Timeline
Series B · €45M · Dawn Capital (lead)
All funding rounds in the database
In the news
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Mentioned on the podcast
Flatpay launched on 1 March 2022 to serve small and medium-sized merchants with simple payments pricing sold in person.
Flatpay has almost 2,000 employees across seven markets and a product and tech team of about 120.
Flatpay's management team of about 25 was hired entirely through networks and references, never job posts, and every country managing director has been promoted from within.
Flatpay sends about ten people from the company to open each new market; only the head of HR is hired locally at first.
Flatpay's field sales reps have a quota of 20 sales a month, and roughly two-thirds are still with the company after a year.
Flatpay has raised five rounds in about three and a half years, starting with a seed round led by SEED Capital.
Flatpay takes about 10% of the Danish market and 5–6% of the Italian market each year.
Flatpay was about to pass 100,000 merchants, up from around 70,000 at the start of the year, and expects about 200,000 by year-end.
An average Flatpay merchant processes about 200,000 euros a year, or about 20 billion euros in total annual volume.
Flatpay is not regulated and relies on partners for acquiring and licences so it can enter new markets quickly; its next market will likely be outside Europe.