Danish Fintech Flatpayโฃ Achieves Unicorn Status following $106 Million Funding Round
COPENHAGEN,โข Denmark – Flatpay, a Danish fintech โcompany focused โขon payment solutions for small and medium-sizedโฃ businesses (SMBs), has secured $106โฃ million in new funding, propelling it to a valuation exceeding $1 billion and joining the ranks ofโ European fintechโ unicorns. The round was โคled by new โคinvestor Kinnevik, alongside participation from existing investors Valarโ Ventures and Fuel Ventures.
Founded in 2022, Flatpay distinguishes itself through a high-touch, in-person sales andโค onboarding approach, directly โaddressing what CEO Nielsโ Janca-Jensen describes โขas โSMB owners’ activeโ search for better payment โขsolutions, even when current systems are inadequate. โฃ”That’s where we come in the door,” Janca-Jensen โคstated. The company’s sales โขrepresentativesโค utilize aโ “demo kit” – including card terminals – to provide instant demonstrations and explain โคFlatpay’s pricing directly to potential clients.
The newly raised capital will fuel continued expansion within Flatpay’s existing markets – โDenmark, Finland, France, Germany, Italy, and the U.K.โข – with plans to enterโ one or two additional โฃmarkets โin the coming year, potentially including theโ Netherlands โbasedโข onโค current job postings.
Flatpay currently employs 1,500 “flatpayers” and aims โฃto double โคits headcount by the end of โฃnext year.โ The company has set ambitious growth โtargets, intending to increase both revenue โand โemployee โnumbers tenfold by 2029. โขThis emphasis on personnel reflects the company’s hands-on onboarding process, which โis central to its business model.
While acknowledging higher โcustomer โคacquisition costs โขdue to its personalized โapproach and 24/7 customer support,Janca-Jensen believes this strategy drives faster growth andโ resonates with investors. Flatpay is โคalso integrating artificial intelligenceโค for real-time features and exploring voice AI agents, while simultaneously planningโข to expand its fintech offerings with a banking suite encompassing cards and accounts. Janca-Jensen emphasizes a measured approach to AIโ adoption, โaiming to deliverโข new features โฃto SMBs in โmanageableโฃ steps: “eatโข the elephant one bite atโ a โขtime.”
Flatpay operates in a competitive โmarket alongside established โplayersโ like paypal, Stripe, and SumUp, as well as emerging startups specializing inโ specific sectors, โฃsuch as hospitality-focused Tobi. โThe companyโฃ believes its focus on simplicity and a “ready to go” experience for SMBs sets it apart.