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Tuesday, May 21, 2024
HomeNewsFlatpay Secures €45M in Series B Funding to Propel its Innovative Payment...

Flatpay Secures €45M in Series B Funding to Propel its Innovative Payment Solution Worldwide, and help millions of merchants grow their business

Flatpay, the game-changing payments solution simplifying payments and financial management for small and medium-sized merchants, has raised €45M from leading investors to further develop its product offering, expand into new markets and rapidly scale its team.

The Series B funding round was led by Dawn Capital, Europe’s leading specialist B2B software investor and the early backer of Nordic fintech unicorns iZettle and Tink, and with participation from Seed Capital, Denmark’s largest venture capital fund within the seed segment investing in technology companies, and other investors.

Transforming the payment industry for merchants

Founded in 2022 by experienced serial founders Sander Janca-Jensen, Rasmus Busk, Rasmus Hellmund Carlsen and Peter Lüth, Flatpay has already expanded into Finland and Germany. It offers a highly competitive full-service POS and payments solution for merchants seeking  great service 24/7, low, flat, and fixed rates with no hidden costs – along with daily payouts and insightful dashboards.

Sander Janca-Jensen, Flatpay CEO and co-founder, says: “We are thrilled to see how well we have been received by merchants in all our markets and to see how our rapid growth journey has resonated with investors. We have already transformed the payment and POS experience      for merchants in Denmark, Finland, and Germany, and this fresh funding will fuel our geographical expansion into new markets and help us innovate further and help merchants across Europe grow their businesses.”

“We are delighted to be partnering with the experienced team at Dawn Capital along with our existing investors at Seed Capital as we pursue this growth journey. They are the expert investors in our space, and their support will be invaluable as we scale, and we look forward to working closely with them to build Flatpay into a truly European champion of financial solutions for merchants.”

New products and talents

Flatpay recently launched a state-of-the-art and fully integrated point of sale (POS) solution. This has had immediate success with customers because it simplifies payments and business administration and offers merchants full transparency with no hidden costs along with an intuitive interface. Flatpay has also just launched a low-cost payment solution for online merchants in Denmark, which soon will be available in all markets.

Now, Flatpay intends to develop and launch new products and services to further simplify payments and financial management for merchants. The goal is to become the leading one-stop-shop for financial and business management supporting merchants with streamlining and growing their business.

Josh Bell, General Partner at Dawn Capital, comments: “We are proud to have been very early backers of Nordic fintech unicorns iZettle and Tink – businesses that transformed the payments and open banking landscape. We’re always closely following developments in the payments space, and we’re now hugely excited to be investing in Flatpay. The company’s product is a game-changer for SMEs, who deserve transparent and affordable payments, and an escape from hidden costs and fees leveraged by incumbents”, and continues:

Flatpay has a tireless and talented team, and an enormous target market in its sights. The company’s solution addresses a huge, multi-billion market opportunity in Europe alone, targeting the replacement cycle of around 7 million small and medium-sized merchants.  Sander, Rasmus and their team have already delivered stellar commercial traction, and we can’t wait to support them on their growth journey.”

Lars Andersen, Partner at Seed Capital, says: “At Seed, we are extremely impressed by the remarkable growth of Flatpay, probably the fastest growing start-up out of Denmark. We’re fully committed to support their continued development and are excited to be part of the impact the Flatpay team will make on the payment industry and beyond.” Now, supported by experienced investors, the company’s founders plan to use the fresh funding to scale the Flatpay team and recruit talent across functions and geographies.    

About Flatpay

Flatpay is offering a highly competitive, simple, and affordable POS and payments solution for small and medium-sized merchants appreciating great service round the clock, low, flat, and fixed rates with no hidden costs – along with daily payouts and insightful dashboards.

This is possible with a combination of Flatpay’s innovative payment service for retailers and online stores, state-of-the-art point-of-sales (POS) systems and future-proof data insights.

Flatpay’s mission is to support Europe’s 7 million small and medium-sized merchants growing their business by simplifying payments and financial management overall. Our solutions make the everyday life for merchants simpler so they can focus on what they do best.

Flatpay was founded in 2022 and has in record time expanded from Denmark into both Finland and Germany with more than 7,000 merchants using the service every day.

   

NFM Publishing Team
NFM Publishing Team
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