Danish Fintech Flatpay Achieves Unicorn Status following $106 Million Funding Round
COPENHAGEN, Denmark – Flatpay, a Danish fintech company focused on payment solutions for small and medium-sized businesses (SMBs), has secured $106 million in new funding, propelling it to a valuation exceeding $1 billion and joining the ranks of European fintech unicorns. The round was led by new investor Kinnevik, alongside participation from existing investors Valar Ventures and Fuel Ventures.
Founded in 2022, Flatpay distinguishes itself through a high-touch, in-person sales and onboarding approach, directly addressing what CEO Niels Janca-Jensen describes as SMB owners’ active search for better payment solutions, even when current systems are inadequate. ”That’s where we come in the door,” Janca-Jensen stated. The company’s sales representatives utilize a “demo kit” – including card terminals – to provide instant demonstrations and explain Flatpay’s pricing directly to potential clients.
The newly raised capital will fuel continued expansion within Flatpay’s existing markets – Denmark, Finland, France, Germany, Italy, and the U.K. – with plans to enter one or two additional markets in the coming year, potentially including the Netherlands based on current job postings.
Flatpay currently employs 1,500 “flatpayers” and aims to double its headcount by the end of next year. The company has set ambitious growth targets, intending to increase both revenue and employee numbers tenfold by 2029. This emphasis on personnel reflects the company’s hands-on onboarding process, which is central to its business model.
While acknowledging higher customer acquisition costs due to its personalized approach and 24/7 customer support,Janca-Jensen believes this strategy drives faster growth and resonates with investors. Flatpay is also integrating artificial intelligence for real-time features and exploring voice AI agents, while simultaneously planning to expand its fintech offerings with a banking suite encompassing cards and accounts. Janca-Jensen emphasizes a measured approach to AI adoption, aiming to deliver new features to SMBs in manageable steps: “eat the elephant one bite at a time.”
Flatpay operates in a competitive market alongside established players like paypal, Stripe, and SumUp, as well as emerging startups specializing in specific sectors, such as hospitality-focused Tobi. The company believes its focus on simplicity and a “ready to go” experience for SMBs sets it apart.
