Danish fintech Flatpay, which provides card payment solutions for SMBs, has reached unicorn status with a valuation of €1.5 billion, just three years after its founding.
The startup has raised €145 million in its latest funding round, led by AVP and Smash Capital, with participation from Dawn Capital, which had backed its US$47 million Series B, and former German footballer Mario Götze.
Flatpay’s growth strategy focuses on offering small merchants a flat transaction rate for its card terminals and point-of-sale systems, targeting the segment that accounts for 99% of European businesses.
According to TechCrunch, the company now serves around 60,000 customers, up from 7,000 in April 2024.
CEO and co-founder Sander Janca-Jensen highlighted the startup’s financial progress:
“We crossed €100 million of ARR in October,”
he said, noting that the figure is growing by roughly €1 million per day.
“The plan for 2026 is to grow another 300%, so hopefully leave the year with between €400 and €500 million of ARR.”
Flatpay employs 1,500 staff, referred to internally as “flatpayers”, and plans to double this number by the end of next year, alongside expanding into one or two new markets.
Its growth model relies heavily on in-person onboarding, with sales staff visiting SMBs directly to explain pricing and provide card terminals for demonstrations.
Janca-Jensen described this hands-on approach as central to acquiring customers:
“Every sales person has that suitcase.”
While the approach increases customer acquisition costs, the company argues it accelerates growth by generating demand and supporting high retention.
Flatpay also integrates AI for real-time features and is experimenting with voice agents, while planning a gradual rollout of a broader banking suite for SMBs, including cards and accounts.
Janca-Jensen said the aim is to allow SMB owners to “eat the elephant one bite at a time.”
Featured image credit: Edited by Fintech News Switzerland, based on image by rawpixel.com via Freepik
