Flatpay’s Meteoric Rise: From Startup to European Fintech Unicorn in Three Years
In the rapidly evolving fintech landscape, few stories are as compelling as that of Flatpay, a Danish startup that has swiftly ascended to unicorn status within just three years of its inception. Founded in 2022, Flatpay has revolutionized payment solutions for small and medium-sized businesses (SMBs) across Europe, offering transparent, flat-rate pricing and user-friendly point-of-sale (POS) systems.
Founding Vision and Early Growth
Flatpay was established by a team of seasoned entrepreneurs: CEO Sander Janca-Jensen, along with co-founders Rasmus Busk, Rasmus Hellmund Carlsen, and Peter Lüth. Their collective vision was to simplify payment processes for SMBs, a sector that comprises approximately 99% of European businesses. By eliminating hidden fees and offering straightforward pricing models, Flatpay quickly gained traction among merchants seeking reliable and cost-effective payment solutions.
Rapid Customer Acquisition and Market Expansion
The company’s growth trajectory has been nothing short of remarkable. By April 2024, Flatpay had onboarded around 7,000 customers across Denmark, Finland, and Germany. This number surged to approximately 60,000 by November 2025, reflecting the company’s successful expansion into additional markets, including France, Italy, and the United Kingdom.
Innovative Pricing Model and Service Offerings
Flatpay’s appeal lies in its transparent pricing structure. Merchants are charged a flat transaction rate of 0.99% for terminal transactions and 1.49% for POS purchases, with no setup or subscription fees. This model ensures predictability and affordability for SMBs, many of whom operate on tight margins. Additionally, Flatpay provides comprehensive POS systems that streamline payments, product management, and sales analytics, empowering merchants to manage their operations more efficiently.
Significant Funding Milestones
To fuel its rapid expansion, Flatpay has successfully secured substantial funding. In April 2024, the company raised €45 million in a Series B round led by Dawn Capital, bringing its valuation to well over $100 million. This funding was instrumental in supporting product development and market expansion efforts.
By November 2025, Flatpay achieved unicorn status with a valuation of €1.5 billion ($1.75 billion). This milestone was reached following a €145 million funding round backed by AVP Growth and Smash Capital, alongside continued support from Dawn Capital. The influx of capital is earmarked for further market expansion and scaling the company’s workforce to meet growing demand.
Impressive Revenue Growth
Flatpay’s financial performance mirrors its rapid customer acquisition. The company reported annual recurring revenue (ARR) exceeding €100 million in October 2025, with daily increases of nearly €1 million. Projections for 2026 are ambitious, aiming for a 300% growth to achieve between €400 and €500 million in ARR by year’s end.
Strategic Focus on SMBs
A key differentiator for Flatpay is its unwavering focus on SMBs processing over €100,000 annually. By targeting this specific segment and avoiding larger chains or franchises, Flatpay ensures that its solutions are tailored to the unique needs of smaller merchants. This strategic focus has fostered strong customer loyalty and positioned the company as a trusted partner in the SMB sector.
Commitment to Personalized Service
Despite its emphasis on streamlined technology, Flatpay places a high value on personalized service. The company employs a direct sales approach, conducting in-person visits to onboard new customers. This hands-on strategy not only builds trust but also allows Flatpay to better understand and address the specific needs of each merchant.
Future Outlook
Looking ahead, Flatpay plans to continue its aggressive growth strategy by entering new European markets and further enhancing its product offerings. The company also aims to double its workforce by the end of 2026, reinforcing its commitment to providing exceptional service and support to its expanding customer base.
Conclusion
Flatpay’s journey from a fledgling startup to a fintech unicorn in just three years underscores the company’s innovative approach and deep understanding of the SMB market. By offering transparent pricing, user-friendly technology, and personalized service, Flatpay has set a new standard in payment solutions for small and medium-sized businesses across Europe.
