Flatpay Raises $48 Million to Expand POS, Payment Solutions Offering
Flatpay has raised 45 million euros (about $48 million) in a Series B funding round to expand its offering of point-of-sale (POS) systems and payment solutions designed for small and medium-sized businesses (SMBs).
The Danish company will use the new funding to develop new products and scale new and existing markets, Flatpay said in a video posted on LinkedIn.
“As we set our sights on the horizon, our mission remains clear: to empower small business owners across Europe by simplifying and democratizing financial services,” Sander Janca-Jensen, CEO and founder of Flatpay, said in a Wednesday post on LinkedIn. “With this new injection of capital, we’re poised to accelerate our growth and scale our impact, making the entrepreneurial journey smoother and more accessible for all.”
Flatpay’s solutions include one flat rate for all cards, with no hidden fees and no monthly subscription, according to its LinkedIn page.
The company was founded in 2022 in Denmark and currently operates in Denmark, Finland and Germany, according to the page. It has 8,000 customers, according to Janca-Jensen’s post.
The latest funding round was led by Dawn Capital.
“Business owners value Flatpay’s transparent and superior offer that allows for seamless operations around the clock — a flat rate on all cards, daily settlements, 24/7 customer service, intuitive UI/UX — a situation previously unimaginable for smaller merchants served by sleepy legacy providers,” Dawn Capital said in a Wednesday blog post.
Flatpay addresses a market that includes 7 million SMBs that are currently using the solutions of the legacy players that hold 80% of the market, the post said. As those merchants look to replace the equipment they’reusing, that amounts to a multibillion-dollar market opportunity.
To pursue this opportunity, the company is hiring sales talent across Europe, per the post. Flatpay is also looking to add eCommerce solutions, expense management tools and other value-add services.
“Merchants of all sizes deserve transparent and affordable payments, and an escape from hidden costs and fees leveraged by incumbents,” Dawn Capital said in the post. “Flatpay offers the ideal solution to this problem, and the company’s tireless team has an enormous market in its sights.”
This funding round comes 10 months after Flatpay raised 15 million euros (about $16 million) in a Series A round. Janca-Jensen said at the time that the company aims to become a major European player with 100,000 customers within three to five years.
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