Danish Flatpay raises EUR 37 million for international expansion to help millions of European merchants grow their businesses

Danish fintech company Flatpay has just raised EUR 37 million in a Series B round. Flatpay’s mission is to make payments and financial administration easy, simple and cheaper for merchants. The investment will be used to further develop Flatpay’s product range, continue its international expansion into more countries, and hire more talent in Denmark, Germany and Finland, among others, where Flatpay sees significant growth opportunities.

Flatpay’s mission is to make payments and financial administration easy and simple for small and medium-sized businesses, so they can focus on running and growing their company. It is a mission investors see great potential in, which is why Flatpay is now raising EUR 37 million in a Series B round from leading European investors to further develop its product range, expand into new markets and rapidly scale the organisation to match its strong growth.

The investment round was led by Dawn Capital, Europe’s leading investor specialising in B2B software, which has previously backed Nordic fintech unicorns such as iZettle and Tink, together with existing investors including Seed Capital, Denmark’s leading venture capital fund for early-stage investments in innovative technology companies.

Set to transform the payments market for small and medium-sized merchants

Flatpay was founded in 2022 by Sander Janca-Jensen, Rasmus Busk, Rasmus Hellmund Carlsen and Peter Lüth. Last year Flatpay opened new offices in both Finland and Germany, and today it supports more than 7,000 merchants across the three markets.

Flatpay wants to challenge the status quo in the payments market by offering simple, competitive full-service solutions — a point-of-sale (POS) system and a payment solution for merchants who want great service 24/7 and low, fixed and transparent prices with no hidden costs, along with daily payouts and dashboards that give a clear overview of their finances.

“We are pleased to see how well we have been received by merchants in all our markets, and how our rapid growth journey resonates positively with investors. We have already transformed the payment and POS experience for merchants in Denmark, Finland and Germany, and the new investment will lift our geographic expansion into new markets and further accelerate innovation and product development, so we can help merchants across Europe run and grow their businesses,” says Sander Janca-Jensen, CEO and founder of Flatpay.

“We are glad to be working with the experienced team at Dawn Capital and our existing investors at Seed Capital on this growth journey. They are experienced fintech investors and their support is valuable as we scale. We look forward to working closely with them towards our shared goal of making Flatpay the European champion in financial solutions for small and medium-sized businesses.”

New products and talent

Flatpay recently launched a state-of-the-art, fully integrated point-of-sale (POS) solution. It has already been a great success among Flatpay’s customers because it makes payments and financial administration simpler while giving merchants full transparency with no hidden costs. In addition, Flatpay has just launched an affordable online payment solution in Denmark, which will soon be available in all markets.

With the new investment, Flatpay will develop and launch new products and services that make payments and financial administration simpler for merchants. The goal is to become the leading “one-stop shop” for payments and financial administration, especially for physical stores, so they can streamline and grow their business.

“We are proud to have been early on the journey with Nordic fintech unicorns such as iZettle and Tink — both companies that transformed the payments market and open banking. We always follow developments in payments closely, and we are now enormously pleased to invest in Flatpay. Their product is a game-changer for SMEs, which deserve transparent and affordable payment solutions without the hidden costs and fees that the big players often impose on them,” says Josh Bell, General Partner at Dawn Capital, who continues:

“Flatpay has both a hardworking and talented team, and they are entering an enormous market worth potentially several billion in Europe alone, where there are around 7 million small and medium-sized businesses. Sander, Rasmus, Peter and their team have already delivered outstanding commercial results, and we cannot wait to support them on the next stage of their growth journey.”

“At Seed we are extremely impressed by the remarkable growth Flatpay has experienced. Flatpay is probably the fastest-growing Danish start-up we have ever seen. We look forward to continuing on the journey and being part of the major changes the Flatpay team will create in the payments industry,” says Lars Andersen, Partner at Seed Capital.

With experienced investors behind it, Flatpay now plans to use part of the new investment to further scale the team by recruiting talent across functions and markets.

This Series B funding round is subject to regulatory approval.

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