Copenhagen’s Flatpay becomes Denmark’s fastest unicorn after securing €146.5M at $1.7B valuation

Danish fintech Flatpay hits unicorn status with €146.5M funding, reaching $1.7B valuation and expanding rapidly across European markets.

Copenhagen-based Flatpay, a startup that builds payment solutions for small and medium-sized businesses, has secured €146.5M at $1.7B valuation in its latest funding round from Hedosophia, AVP Growth and Smash Capital, along with Dawn Capital.

With this funding round, the company has reached unicorn status just three and a half years after launch. Flatpat becomes the fastest company in Denmark to achieve this feat.

The announcement was made by the company’s co-founder, Rasmus Busk, through a post on LinkedIn. 

At present, the company claims to have around 60,000 customers, up from 7,000 in April 2024, reports TechCrunch.

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

This figure, which translates to approximately $116 million, is reportedly increasing by nearly €1 million a day (about $1.16 million).

Janca-Jensen shared that the company’s ambitious plan for 2026 aims for a 300 per cent growth, targeting an ARR between €400M and €500M by the end of that year.

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

While Janca-Jensen hasn’t revealed specific locations, job postings suggest that the Netherlands could be a target for their next move, says the report.

In 2024, the company raised €45M in a Series B round of funding led by London’s Dawn Capital, with participation 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.

Flatpay: POS system and payment solutions for SMEs

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

The company’s pricing model removes hidden costs and fees, providing a straightforward flat rate for all cards without any monthly subscription for its point-of-sale and payment solutions.

Operating in Denmark, Finland and Germany, Flatpay aims to become a trusted business partner in optimising payment processes and supporting business growth.

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