Flatpay Secures Funding for International Expansion

Danish fintech Flatpay today announced the completion of a seed-investor round, securing EUR 3.5 million in funding from Seed Capital. The goal is to grow further in Denmark and elsewhere in Europe.  

Founded earlier in 2022, Flatpay is a fintech payments provider for small and medium-sized businesses. The company has built its business on a simple premise of one flat rate with no hidden fees, regardless of which payment card type a customer uses. Today the company announced that it has secured an investment of EUR 3.5 million from Danish venture fund Seed Capital. The funding will accelerate the company's growth in Denmark and, over time, across several European markets.

The Flatpay business model and offer have clearly struck a chord in the market with the company currently adding around 200 new customers a month, and the monthly transaction volume processed through the platform has reached EUR 7.5 million.

"Our growth has vastly exceeded what we could have dreamed of, and that's a big part of why we're now stepping on the gas. The competitors in this market are large and well established, but our answer is to keep things simple. For us, it's about being the obvious, easy choice," CEO and co-founder Sander Janca-Jensen said.

European expansion is next

With fresh capital, Flatpay is setting two defined targets for 2023. Aiming for a total card transaction volume of EUR 1.2 billion and a customer base of 4,000 businesses. The plan also calls for entering at least one new country per year going forward, with the rest of Europe being the natural next step.

“I am confident that the customer interest we have seen in Denmark will also be present in a lot of other European markets,” Sander Janca-Jensen said.

The announced investment comes from Danish venture fund Seed Capital, which has previously backed companies such as Trustpilot, Vivino, and Endomondo.

Lars Andersen, Partner at Seed Capital, is impressed by the Flatpay team's ability to execute at magnificent speed and names this as a key reason behind the investment.

"We typically invest very early in a company's life cycle,which makes execution the deciding factor. What we've seen from Flatpay is very impressive and right at the top of what we've come across in past investments. We have great hopes for the future of Flatpay," Lars Andersen said.

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