Copenhagen’s Flatpay Raises €146.5M, Becomes Denmark’s Fastest Unicorn at $1.7B

Copenhagen-based Flatpay, a startup providing payment solutions for small and medium-sized businesses, has raised €146.5M in its latest funding round, valuing the company at $1.7B. Investors include Hedosophia, AVP Growth, Smash Capital, and Dawn Capital.

with this funding round, Flatpay has achieved unicorn status just three and a half years after its launch, making it the fastest company in Denmark to reach this milestone.

The company’s co-founder, Rasmus Busk, announced the news in a LinkedIn post. Flatpay now has about 60,000 customers, up from 7,000 in April 2024, according to TechCrunch.

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“We started this company only 3.5 years ago with a simple idea and an insane amount of belief – belief that small businesses deserved better. Better payment solutions and software systems. More transparency and better service,” says Busk.

Flatpay reached €100 million in annual recurring revenue (ARR) in October, according to CEO and co-founder Sander Janca-Jensen, reports TechCrunch.

This is about $116 million and is growing by nearly €1 million ($1.16 million) per day.

Janca-Jensen said the company aims to grow 300% by 2026, targeting an ARR of €400–500 million.

The new funds will help Flatpay grow in its current markets Denmark, Finland, France, Germany, Italy, and the U.K. and expand into one or two new markets next year.

Although Janca-Jensen hasn’t confirmed locations, job postings hint that the Netherlands could be Flatpay’s next market, according to the report.

In 2024, Flatpay raised €45 million in a Series B funding round led by London’s Dawn Capital, with support from Copenhagen’s Seed Capital and other investors.

“Seeing Flatpay reach unicorn status this fast is a testament to the grit, heart, and ambition of everyone on this journey,” adds Busk.

Founded in 2022 by Sander Janca-Jensen, Rasmus Busk, Rasmus Hellmund Carlsen, and Peter Lüth, Flatpay is a fintech startup that makes card payments simple for small and medium-sized businesses, with transparent pricing and no hidden fees.

Flatpay charges a flat rate for all cards, with no monthly subscriptions for its point-of-sale (POS) and payment solutions.

The company currently operates in Denmark, Finland, and Germany and aims to be a trusted partner for businesses by improving payment processes and supporting growth.

Flatpay offers two main products: a payment terminal for fast, affordable card payments, and an all-in-one POS system that combines payments, product management, and sales analytics for businesses across all industries.

About Flatpay

Flatpay is a fintech company offering payment solutions and an all-in-one POS system for small and medium-sized businesses. With a simple, transparent flat-rate pricing for all payment methods, Flatpay helps businesses process payments efficiently, manage products, and track sales without hidden fees or monthly subscriptions.