Profile: The Danish fintech boss who says “no” a lot

Danish fintech unicorn Flatpay has rapidly ascended to unicorn status, securing $170 million in funding and achieving a $1 billion valuation within three years. This rapid growth, fueled by a focused strategy and a clear value proposition, positions Flatpay as a significant player in the European payments landscape. The company's success underscores the increasing viability of European startups in challenging established markets. Flatpay differentiates itself with a transparent, flat transaction rate for its payment hardware and software solutions tailored for small and medium-sized merchants, primarily brick-and-mortar businesses. Offering integrated point-of-sale systems and online payment gateways, the company has seen its customer base expand tenfold to approximately 70,000 merchants. This growth is supported by a strong emphasis on customer service, including daily settlements and in-person sales interactions, alongside significant hiring efforts to support its multi-market expansion across Europe. The company's strategic vision extends to new revenue streams, with plans to introduce "light" banking services for merchants, such as business accounts and expense management tools. These initiatives, coupled with ambitious Annual Recurring Revenue (ARR) targets, indicate a sustained growth trajectory. Flatpay's co-founder led approach and emphasis on internal alignment further fortify its operational resilience and strategic focus, aiming to build upon its current stability by expanding its sales force and product development.