Flatpay — the Danish startup helping small businesses accept card payments — has officially joined Europe’s growing list of fintech unicorns, now valued at €1.5 billion ($1.75 billion) just three years after launch.
Its rapid rise mirrors some of the region’s biggest fintech stories, including Dutch payments giant Adyen, and its newest funding round could help it close the gap with established players.
A Simple Model for SMBs Fuels Adoption
Flatpay offers small merchants a flat, transparent transaction fee for card terminals and POS systems — a model tailored for the 99% of European businesses that are SMBs. This focus has driven fast adoption: the company now serves 60,000 customers, up from 7,000 in April 2024.
Though achieving unicorn status is a milestone, CEO and co-founder Sander Janca-Jensen is focused on revenue growth.
“We crossed €100 million ARR in October,” he told TechCrunch, noting revenue is growing by nearly €1 million per day.
“The plan for 2026 is to grow another 300% and finish between €400–€500 million ARR.”
€145M Funding Round to Drive Expansion
To sustain its rapid scale-up — Flatpay remains unprofitable by design — the company raised €145 million ($169 million). The round was led by AVP Growth and Smash Capital, with continued support from Dawn Capital, which led the company’s €47 million Series B. German football star Mario Götze invested in that earlier round.
The new funding will accelerate growth in current markets (Denmark, Finland, France, Germany, Italy, U.K.) and support entry into one or two new European markets in 2026. Job listings hint that the Netherlands may be next.
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A Hands-On Sales Model as a Strategic Advantage
Flatpay’s workforce stands at 1,500 employees and is expected to double next year. Growing headcount is critical: Flatpay onboards customers in person.
Sales reps visit SMBs directly, explain pricing with pen and paper, and offer instant demos.
“Every salesperson has that suitcase,” Janca-Jensen said.
“SMBs want simplicity — that’s where we come in the door.”
This high-touch approach raises acquisition costs, but Flatpay believes it yields stronger conversion and retention than digital-only competitors like Stripe, SumUp, PayPal, or hospitality-focused newcomers.
Fintech Roadmap Includes AI Features and Banking Products
Flatpay is integrating AI into its product suite, working on real-time features and experimenting with voice-based AI agents. The company also plans to expand into fintech services with business accounts and payment cards.
Still, Janca-Jensen maintains that innovation for SMBs must be gradual:
“SMB owners need to eat the elephant one bite at a time.”
