Flatpay hits $1.7B valuation with $170M round, becoming Denmark’s fastest new unicorn

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Copenhagen-based fintech company Flatpay has become the country’s fastest 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 use 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 small 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 use its terminals.

Flatpay says 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 use the new capital to broaden its geographic footprint, expand its product suite, and support operations as it targets $500M ARR by the end 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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