Flatpay, a rapidly ascending financial technology company based in Denmark, has officially entered the esteemed circle of European fintech unicorns—a term reserved for private startups boasting valuations in excess of $1 billion. This milestone achievement not only recognizes Flatpay’s strategic execution and rapid scaling but also situates it within a dynamic ecosystem that has produced some of Europe’s most noteworthy exits in recent years. Among its peers stands Adyen, the renowned Dutch payment processor whose massive operations have long set the benchmark for global payment solutions. Though Adyen retains a commanding lead in scale and market penetration, Flatpay’s latest infusion of capital could enable it to steadily close the distance by advancing its technological infrastructure, expanding its market coverage, and refining the customer experience that underpins its growth strategy.
At the core of Flatpay’s business philosophy lies a deliberately simple yet remarkably effective value proposition: to challenge entrenched payment providers by offering small and medium-sized merchants a single, fixed transaction rate for the use of its card terminals and integrated point-of-sale systems. This transparent pricing approach directly appeals to small business owners—the very segment that constitutes a staggering 99 percent of all enterprises across the European Union. By focusing on this traditionally underserved demographic, Flatpay has gained extraordinary momentum in customer acquisition, reporting a surge from around 7,000 merchants in April 2024 to approximately 60,000 within a matter of months. Such acceleration underscores not only product-market fit but also the strength of its sales model, which prioritizes personal engagement and operational simplicity.
Flatpay’s valuation trajectory has mirrored its user growth, reflecting investor confidence in the company’s financial and strategic outlook. The Danish startup now commands a valuation of €1.5 billion (roughly $1.75 billion), having achieved unicorn status in just three years—a rate of ascent few fintechs have matched. Despite celebrating this recognition, CEO and co-founder Sander Janca-Jensen remains focused on more tangible indicators of performance, particularly annual recurring revenue (ARR). As he told TechCrunch, the company surpassed €100 million in ARR as of October, a figure translating to about $116 million and expanding at an impressive rate of nearly €1 million per day. Maintaining this pace, Flatpay aims for a remarkable 300 percent growth in ARR by 2026, aspiring to conclude the year with between €400 and €500 million.
Although this growth trajectory is undeniably ambitious, it necessitates substantial capital support, as the firm is not yet profitable. To finance ongoing expansion and operational scaling, Flatpay recently secured €145 million (approximately $169 million) in fresh funding. The round was led by AVP Growth and Smash Capital and included participation from Dawn Capital—the prior lead investor in its €47 million Series B—as well as some notable individual backers such as German soccer player Mario Götze. This substantial financial backing reflects a shared belief among investors in Flatpay’s potential to reshape the European SME payment ecosystem.
The newly raised funds will allow Flatpay to consolidate its presence in its six core markets—Denmark, Finland, France, Germany, Italy, and the United Kingdom—while preparing for entry into one or two additional countries in the coming year. Although Janca-Jensen has refrained from disclosing which territories are under consideration, recruitment patterns and job postings suggest that the Netherlands may be next in line. Parallel to its geographic expansion, the company intends to more than double its workforce: Flatpay currently employs approximately 1,500 team members, affectionately dubbed “flatpayers,” and expects this number to reach about 3,000 by the end of next year. Notably, the firm has articulated a dual objective—tenfold growth in both revenue and headcount by 2029—emphasizing that these dimensions are integrally connected due to the firm’s distinctive, people-centered approach to client onboarding.
Flatpay’s field strategy is rooted in a fundamental hypothesis about the mindset of small and medium business owners: that they are eager for simpler, more efficient solutions even when their existing payment infrastructures are only marginally satisfactory. The startup has built its entire sales motion around this insight. In very tangible terms, its representatives personally visit prospective clients, arriving with pen and paper to outline transparent fees and physically equipped with card terminals for real-time demonstrations. This direct, human-centered model fosters trust and immediacy, differentiating Flatpay from the impersonal, fully digital sales funnels employed by many larger competitors. In the words of Janca-Jensen, “Every salesperson has that suitcase”—a symbol of the company’s commitment to connection and clarity.
This approach, while more resource-intensive, has propelled Flatpay into a competitive position in a payments landscape crowded with formidable incumbents such as PayPal, Stripe, SumUp, and a variety of sector-focused newcomers targeting industries like hospitality. Flatpay’s real competitive edge, however, appears to stem from its strategic simplicity. By streamlining setup and offering merchants ready-to-deploy, user-friendly tools, the company enables its clients to start processing payments almost immediately. This concept of being “ready to go” encapsulates Flatpay’s promise of eliminating complexity—a promise that deeply resonates with time-strapped entrepreneurs.
While this commitment to hands-on service naturally leads to higher customer acquisition costs—especially when coupled with its 24/7 customer support operations—Flatpay contends that this investment pays for itself by fueling organic demand generation. In turn, this accelerated growth reinforces investor enthusiasm, particularly at a moment when much of the venture capital world is preoccupied with automation and AI-led models. Ironically, Flatpay’s human-first ethos thrives precisely because it defies those prevailing trends, demonstrating that in fintech, efficiency need not come at the expense of personal connection.
Nevertheless, the company is not disregarding the transformative potential of artificial intelligence. On the contrary, it employs AI for certain real-time operational functionalities and is actively experimenting with voice-driven AI agents designed to enhance merchant interactions and streamline support tasks. Looking ahead, Flatpay intends to broaden its product suite beyond payment processing, venturing deeper into the fintech spectrum through the planned launch of a comprehensive banking offering that would include business cards and account services. CEO Janca-Jensen consistently emphasizes that such innovations will be introduced gradually, allowing entrepreneurs to integrate new tools at a sustainable pace—adhering, as he vividly puts it, to the philosophy of “eating the elephant one bite at a time.” Through this methodical expansion, Flatpay aspires not only to transform how Europe’s small businesses transact but also to redefine the very relationship between technology, transparency, and human trust in financial services.
Sourse: https://techcrunch.com/2025/11/16/fast-growing-danish-startup-flatpay-joins-the-club-of-european-fintech-unicorns-to-track/
