Flatpay invests in Germany: more than 350 employees to be hired

Flatpay recently raised EUR 45 million in a funding round. With more than 8,000 business customers across Denmark, Finland and Germany, the focus is now on expansion across Europe — and one of the first steps is to scale up in the German market.

In just two years, Flatpay has proven that it can transform the payments market for small and medium-sized businesses in Germany, Finland and Denmark. Through low prices, no hidden fees and personal customer service, Flatpay has grown its customer base fivefold in a single year.

Now the time has come to scale up in the German market — something many Danish companies have attempted over the years, but few have succeeded with.

The human approach has been the key to success

Unlike many of its European neighbours, Germany is still characterised by a very analogue approach to almost everything. Pen and paper are still used to sign a contract, cash is preferred over cards, and the public sector’s processes for small and medium-sized businesses remain almost impenetrably analogue.

Even so, Flatpay has managed to succeed in the German payments market, thanks to some fundamental principles: that financial administration should be simple, human and transparent — and that has resonated strongly with German businesses.

“Our success in the German market comes down to our insight into customers’ needs. We have managed to give the German payments market a personal touch. In other words, we give more of ourselves to our customers than our competitors do, because we truly believe we can make a difference for them — and fortunately the results speak for themselves. That has been decisive for the growth we have seen in Germany. We have been able to build trust and, in doing so, strong relationships,” says Rasmus Busk, Co-Founder and Board member at Flatpay.

Experience with internationalisation has been decisive

With a background as CEO of Telmore, co-founder of Mofibo and Managing Director of Verisure, Rasmus Busk has been one of the key figures, drawing on his extensive experience to tailor Flatpay’s successful approach to the particular needs of the German market.

“We have worked on a model that works in Germany and across borders. In short, it is about moving away from the classic fintech lingo, where words like AI and automation dominate. Instead, it is the close human relationship that has gained traction in Germany and with our customers. Of course, everything has to be adapted to the individual countries we operate in, but the structure is there,” says Rasmus Busk, who continues:

“Flatpay’s entry into the German market marks an important milestone on our journey towards global growth. We are determined to invest in building a solid foundation here, with plans to hire 350 employees over the next 24 months, primarily focused on sales and marketing.”

Building a brand and strong partnerships in Germany

Flatpay’s early establishment of strategic partnerships with key players such as Visa and Mastercard gives it a unique position in Germany.

“We look forward to building a strong brand in Germany and investing significant resources in marketing, including partnerships and campaigns, to strengthen our presence and reach our target audience. We are not afraid to think outside the box when it comes to our brand. And we have a great ambassador in the German footballer and former World Cup winner Mario Götze, who is also an investor in Flatpay. We have many things in the pipeline and look forward to unveiling it all,” says Rasmus Busk.

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