Danish fintech Flatpay, which simplifies payments and financial management for small and medium-sized merchants, has raised €45 million in Series B funding. The round was led by European VC Dawn Capital, which invested in FlowX.ai and Onum, alongside participation from Danish VC Seed Capital, and other investors.
Flatpay intends to use the investment to further develop its product offering, expand into new markets, and rapidly scale its team. It also plans to use the fresh funding to scale the team and recruit talent across functions and geographies.
Payment solution for merchants
The fintech startup was founded in 2022 by experienced serial founders Sander Janca-Jensen, Rasmus Busk, Rasmus Hellmund Carlsen, and Peter Lüth. It offers a 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.
Recently, the company launched a fully integrated point of sale (POS) solution, which was welcomed by customers as simplifies payments and business administration and offers merchants full transparency with no hidden costs along with an intuitive interface. Also, it launched a low-cost payment solution for online merchants in Denmark. While the company has already expanded in Finland and Germany, it will soon be available in all markets.
Furthermore, the company 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, stated: “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.”
Lars Andersen, Partner at Seed Capital, said: “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 supporting their continued development and are excited to be part of the impact the Flatpay team will make on the payment industry and beyond.”
Sander Janca-Jensen, Flatpay CEO and co-founder, added: “We are thrilled to see how well we have been received by merchants in all our markets and 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.”
