Danish fintech scaleup Flatpay raises €145 million in capital in a round led by AVP, with participation from Smash Capital and existing investors.
Flatpay has seen its revenues increase by over 400% in recent months. The new funds will be used to further accelerate the company’s expansion, both in existing markets and in new areas.
With this round, the company reaches a valuation of €1.5 billion and becomes the fastest Danish company to achieve unicorn status, an achievement accomplished in just over three years.
“Achieving unicorn status is an exceptional achievement. We are extremely proud to have created a company worth over a billion dollars. This success is the result of great teamwork and constant commitment. Now we aim to consolidate our growth and expand Flatpay to new heights,” said Sander Janca-Jensen, CEO and co-founder of Flatpay (pictured with the other co-founders), in a statement.
Flatpay is redefining the SME payments market with its innovative vision. The team deeply understands the daily challenges faced by small business owners and tackles them with radical simplicity, transparent pricing and an exceptional full-stack product. In addition to their technology, they have built a culture based on performance, empathy and trust, qualities that shine through in everything they do. We are proud to support this extraordinary company as it expands across Europe and beyond,” says Warda Shaheen, general partner and head of Europea. n growth equity of AVP.
Despite decades of innovation in digital payments, merchants continue to receive little support in their physical stores and often face high costs, outdated tools and insufficient support. Flatpay is revolutionising the situation with a platform and sales model based on simplicity, transparency and scalability. We believe Flatpay has the vision and momentum to transform the way merchants transact and operate, and we are proud to support them in this mission,” adds Richard Lin, Vice President, Smash Capital.
The capital will support the company’s growth, which plans to hire new staff to continue gaining new market share.
“We have a highly scalable business model, with triple-digit revenue growth and solid margins that allow us to reinvest in development. Hypergrowth means we need to hire more people to better serve our customer base. I believe Flatpay can reach 10,000 employees, but our company’s growth requires capital, and we are delighted that AVP and Smash Capital believe in Flatpay and are joining us on our next expansion journey,” emphasises the CEO.
The projected turnover for 2025 is around €125 million. The company currently employs 1,400 people globally and expects further growth in the coming years. By 2029, Flatpay aims to increase both its number of full-time employees and its revenue tenfold.
With its headquarters in Milan and the opening of its tenth office in the region planned for December 2025, Flatpay Italia now has more than 330 employees and plans to reach a workforce of 550 in the next three years.
Over half of its 18,000 customers in Italy operate in the food and beverage sector, with businesses such as cafés, restaurants, pizzerias and wine bars.
With a sales team of 150 dedicated consultants, Flatpay supports customers in their growth with innovative tools and transparency, from proposal to installation of the POS and necessary software.
“Since Flatpay launched in Italy in July 2024, we have demonstrated how the scalability of our business model is particularly effective in our market. In just a few months, we have become the Group’s fastest-growing country. Our solid unit economics allow us to continue investing significantly in recruitment. Achieving unicorn status confirms investors’ confidence in the potential of the Italian market. Growing Flatpay Italia from zero to 300 employees and 18,000 customers has been hugely satisfying, but the most rewarding part is contributing every day to the modernisation of the entrepreneurial fabric that makes Italy a country of excellence,” says Alessia Fontanari, managing director, Flatpay Italia.
Flatpay was founded in 2022 when Sander Janca-Jensen, Rasmus Hellmund Carlsen, Peter Lüth and Rasmus Busk met in Copenhagen with the aim of revolutionising the Danish payments market. Flatpay now offers a competitive, simple and convenient POS and payment solution for small and medium-sized merchants looking for excellent 24-hour service, low, flat and fixed rates with no hidden costs, as well as daily payments and detailed dashboards. This is made possible by a combination of Flatpay’s innovative payment service for physical and online shops, state-of-the-art POS systems and forward-looking data analysis.
Flatpay’s mission is to revolutionise the payment experience for merchants by offering full transparency, simplified hardware and high-quality customer service. “From the outset, our approach has been to meet and look all our new and potential merchants in the eye so that we can explain what Flatpay is and how we operate. With Flatpay, customers get transparency and know exactly what they are paying every time they generate revenue,” adds Janca-Jensen. Since 2022, Flatpay has been present not only in Denmark, but also in the United Kingdom, Finland, Germany, Italy and France.
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