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Flatpay rings up $47M to target smaller merchants with simple payment solutions
As the world waits for $65 billion payments tech giant Stripe to go public, a wave of smaller startups continues to roll into the market to pick up more
On the technology side, it has matched its target customer size with the unit economics of its payment solutions to come up with very basic, flat fees (hence the startup’s name) of 0.99% for terminal transactions and 1.49% for POS purchases. Janca-Jensen admitted that its model means that Flatpay sometimes loses money on transactions, but it overall lowers the bar for usage and encourages more spend and overall revenue for the company. You can localise and roll out teams in a cost-efficient way to explain on a local basis why a product makes sense,” said Josh Bell, a general partner at Dawn who focuses on fintech, in an interview.
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