Founded in 2022 by Sander Janca-Jensen and his co-founders, Flatpay was built on the belief that a great workplace and rapid growth can coexist. And the startup has had a rapid growth and high ambitions from the start. In March last year we reported in their aim was to reach 1,000 employees within that year. And in November 2025 they raised a €145 million round, making them the fastest startup to reach unicorn status in Denmark.

“A large part of our success is simply due to the fact that we treat each other properly. I’ve worked with incredibly talented people throughout my career, but talent is never an excuse to behave badly towards your colleagues. We decided early on that we would never compromise on this kind of thing, and we still stick to that,”

says Sander Janca-Jensen, CEO and founder at Flatpay, to Techsavvy

You can read more over at Techsavvy.

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The report comes at a time when Denmark has seen a decline in public listings, with the last major IPO being Gubra in March 2023. Despite this, the analysis reveals that the potential for new listings is stronger than often assumed. The 54 candidates collectively represent nearly a third of the current Danish stock market, highlighting the untapped opportunities for growth and investment in the country.

Traditionally, Danish startups have followed a path of venture capital funding followed by a trade sale or private equity buyout, with IPOs often seen as a distant or even unrealistic goal. However, the FBV analysis suggests that this mindset may be shifting.

The report has however also had many commenting on the realism of it, and if all these companies truly are ready for an future IPO. But many agree that the debate is important and that the Danish IPO scene needs more success to become more important.

“It’s not just Pleo and Veo, where Jeppe Rindom and Henrik Theisbæk have publicly toyed with IPO ideas, but also Lunar, Flatpay, Podimo, Corti, Monta, Too Good To Go, and others are also potential candidates. In the U.S., no one would bat an eye, but here, the usual path is venture capital until a private equity firm or industrial buyer takes over from the founders,”

notes Jesper Højberg Christensen of Bootstrapping.dk.

Three Key Steps to Revitalize the Market

To unlock Denmark’s IPO potential, the FBV report outlines three critical steps. First, encouraging pension funds to invest more in Danish equities could boost liquidity and demand in the market. Second, improving incentives for retail investors, such as lowering capital gains tax or enhancing stock savings accounts, could stimulate greater participation. Finally, simplifying the listing process and reducing associated costs would make IPOs a more attractive and accessible option for companies.

The release of the report coincides with Biomar’s announcement of its expected IPO in the first half of 2026 and the upcoming FBV Stock Market Conference on May 19. This highlight the growing momentum and interest in revitalizing Denmark’s capital markets, ensuring that more homegrown companies can scale and thrive while remaining anchored in the country.

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With the new capital, Flatpay hits a valuation of €1.5 billion, becoming the fastest Danish startup ever to achieve unicorn status, three years after its founding in 2022.

“The fact that we’ve hit unicorn status is a special feeling. We’re proud to have created a company that is worth more than a billion dollars. It’s been a team effort, and it’s taken a lot to reach this milestone. Now our focus is on maintaining our growth trajectory, and expand Flatpay to the next level,”

says Sander Janca-Jensen, CEO and co-founder of Flatpay.

Flatpay reports they have had a massive growth recently, with expected revenue of € 125 million for 2025.

“We have a very scalable business model with three-digit revenue growth and healthy margins allowing us to reinvest in the development of the business. With hyper growth comes the need to onboard more employees to help service our growing portfolio of customers. I believe that we can hit 10,000 employees in Flatpay, but growing our company takes capital, and we are happy that AVP and Smash Capital believes in Flatpay and joins us in our coming growth journey.”

said Sander Janca-Jensen

Flatpay stands out in the fintech landscape by combining radical simplicity, transparent pricing, and a full-stack product tailored specifically for small and medium-sized businesses (SMBs), addressing the long-standing pain points of brick-and-mortar merchants who often face opaque fees, outdated tools, and inconsistent support.

Being only 3 yeras old, the startup has rapidly disrupted the payment market with its innovative point-of-sale (POS) systems, daily payouts, and insightful dashboards, all delivered with a commitment to exceptional customer service and no hidden costs.

“Flatpay is a true visionary in the SMB payments market. The team deeply understands the daily challenges of small business owners and meets them with radical simplicity, transparent pricing, and an exceptional full stack product. Beyond their technology, they have built a culture grounded in performance, empathy, and trust, qualities that shine through in everything they do. We are proud to support this remarkable company as they expand across Europe and beyond.”

said Warda Shaheen, General Partner and Head of European Growth Equity at AVP

You can read more all over the internet, such as TechCrunch or Techsavvy.

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Established in 2022 in Copenhagen, Flatpay provides companies with a POS and payment solution, focused on transparency and a flat low rate on all cards.

A Culture of Respect and Innovation

Flatpay attributes much of its success to its strong values and a “no-asshole culture,” which fosters a respectful and positive work environment.

“When people are given responsibility, they must treat others with respect. A leader who doesn’t treat employees properly can be enormously demotivating. It’s crucial to have people with positive energy, and we’ve succeeded in that.”

Rasmus Carlsen, Partner and CMO at Flatpay, emphasizes in the article

Flatpay’s foundation is rooted in Denmark, and the company is committed to maintaining its strong culture as it expands internationally. Instead of hiring external leaders, Flatpay provides opportunities for Danish employees to grow and develop in foreign markets, ensuring that the company’s DNA and values remain intact.

You can read the entire article here: Techsavvy

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