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Copenhagen-based fintech company Flatpay has become the countest’s quickest unicorn after securing $170 million in fresh funding at a $1.7 billion valuation. The round was led by AVP and Smash Capital, with continued support from Hedosophia, Seed Capital, and Dawn Capital. Founded in 2022, Flatpay provides flat-rate, no-hidden-fee payment and POS solutions for SMB merchants across Europe, operating in Denmark, Finland, Germany, Italy, and France. The company will apply the new capital to accelerate its European expansion, strengthen product development, and support its rapidly growing customer base.
Founded in 2022, Flatpay builds flat-rate payment and POS infrastructure for tiny and midsize merchants, offering a standardized model in a segment long defined by opaque fee structures and fragmented hardware. The company has scaled quickly across Europe—now active in Denmark, Finland, Germany, Italy, and France—and reports that more than 50,000 merchants apply its terminals.
Flatpay states revenue has climbed from $35M to $140M ARR in the past 12 months, a 400% year-over-year increase that outpaces most European fintech growth benchmarks. The company plans to apply the new capital to broaden its geographic footprint, expand its product suite, and support operations as it tarobtains $500M ARR by the finish of next year. Its trajectory also stands out in a funding environment where AI-native companies have dominated investor attention; Flatpay is among the few non-AI startups to reach unicorn status in the region this year.
With more than 1,300 employees and continued momentum across Europe’s retail and hospitality sectors, Flatpay’s next phase will test whether a simplified payments model can maintain its pace amid rising competition from both traditional acquirers and next-generation fintech platforms.
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