Mangopay

Last updated
Mangopay
IndustryFintech
Founded2013
FounderCeline Lazorthes and Romain Mazeries
HeadquartersLuxembourg
Key people
  • Romain Mazeries (CEO)
  • Carlos Sanchez Arruti (CFO)
  • Xavier Garambois (Executive Chairman)
OwnerAdvent International
Number of employees
c. 500 (2024)
Website mangopay.com

Mangopay is payments company providing modular infrastructure technology for e-commerce platforms, particularly online marketplaces and platforms, such as Vinted, Chrono24, Rakuten, and La Redoute.

Mangopay is licensed in the EU/EEA by the CSSF (Commission de Surveillance du Secteur Financier) and in the UK by the FCA (Financial Conduct Authority). [1] [2] In November, Mangopay became authorised as an Electronic Money Institution (EMI) by the Financial Conduct Authority (FCA). [3]

In October 2023, the company was named one of FXC Intelligence's most promising cross-border payment companies. [4]

In November, Mangopay announced the launch of its FX product to provide multi-currency pricing, local settlements and treasury management for clients to offer cross-border payments. [5]

Mangopay offers application programming interfaces (APIs) enabling developers to incorporate payment capabilities into their platforms and applications. Mangopay's products are modular, allowing clients to select specific components to set up their desired payments flow. [6] [7] [8]

History

Mangopay was launched in 2013 and was a spin off from Leetchi.com, which was founded by Celine Lazorthes in Paris, in 2009. [9] [6]

In 2015, Mangopay and Leetchi.com were acquired by French bank Crédit Mutuel Arkéa. [10] [11]

In 2018, Romain Mazeries was appointed to the position of Mangopay CEO. [12] [13]

In April 2022, Mangopay was acquired by private equity firm Advent International, which injected €75m of primary capital. [14] [15]

In November of the same year, the company acquired Polish anti-fraud specialist Nethone for an undisclosed sum. Its acquisition added cybercrime protection to Mangopay's suite of services. [16]

In March 2023, Mangopay acquired Dublin-based payments startup WhenThen for an undisclosed sum. In the same month, the company was named as the Best Platform and Marketplace Provider at the Merchant Payments Ecosystem (MPE) Awards. [17]

Related Research Articles

<span class="mw-page-title-main">Tradeshift</span> Global cloud based business platform and network

Tradeshift is a cloud based business network and platform for purchase-to-pay automation, supply chain payments, marketplaces, virtual cards and supply chain financing. Its 2018 round of funding, led by Goldman Sachs, raised US$250 million at a valuation of $1.1 billion, giving the company unicorn status. Tradeshift is headquartered in San Francisco, California and has offices in London, Copenhagen, Bucharest and Kuala Lumpur. Tradeshift has reprocessed over $1 trillion USD through transactions on its network.

Twilio Inc. is an American cloud communications company based in San Francisco, California, which provides programmable communication tools for making and receiving phone calls, sending and receiving text messages, and performing other communication functions using its web service APIs.

Snapdeal is an Indian e-commerce company, based in New Delhi, India. It was founded in February 2010 by Kunal Bahl and Rohit Bansal.

Circle is a peer-to-peer payments technology company that now manages stablecoin USDC, a cryptocurrency the value of which is pegged to the U.S. dollar. It was founded by Jeremy Allaire and Sean Neville in October 2013. Circle is headquartered in Boston, Massachusetts. USDC, the second largest stablecoin worldwide, is designed to hold at or near a stable price of $1. The majority of its stablecoin collateral is held in short-term U.S. government securities.

littleBits Electronics company in New York, United States

littleBits is a New York City-based startup that makes an open source library of modular electronics, which snap together with small magnets for prototyping and learning. The company's goal is to democratize hardware the way software and printing have been democratized. The littleBits mission is to "put the power of electronics in the hands of everyone, and to break down complex technologies so that anyone can build, prototype, and invent." littleBits units are available in more than 70 countries and used in more than 2,000 schools. The company was named to CNN's 10 Startups to Watch for 2013.

Carousell is a Singaporean smartphone and web-based consumer to consumer and business to consumer marketplace buying and selling new and secondhand goods. Headquartered in Singapore, it also operates in Malaysia, Indonesia, the Philippines, Taiwan, Hong Kong, Macau, Australia, New Zealand and Canada. Carousell is available on both iOS and Android devices.

Carwow is an online marketplace for buying and selling cars. It uses the reverse marketplace model to remove the need for customers to negotiate with dealers when buying or selling their cars. When buying a new car, users choose the car they want, along with the various specifications and features, and then receive offers directly from dealers. When selling a car, users upload some basic details about their car, after which different car dealers are invited to bid to buy the car directly from them. It also provides information to prospective purchasers and gives feedback on rogue dealers. The company has a YouTube page, run by motor journalist and Carwow's Chief Content Officer Mat Watson, where different cars are reviewed.

<span class="mw-page-title-main">Bolt (company)</span> Peer-to-peer ridesharing, food delivery

Bolt is an Estonian mobility company that offers ride-hailing, micromobility rental, food and grocery delivery, and carsharing services. The company is headquartered in Tallinn and operates in over 500 cities in more than 45 countries in Europe, Africa, Western Asia and Latin America. The company has more than 150 million customers and more than 3 million driver and courier partners. The company has plans for an initial public offering in 2025.

Revolut is a global neobank and financial technology company with headquarters in London, UK that offers banking services for retail customers and businesses. It was founded in 2015 by Nikolay Storonsky and Vlad Yatsenko. It offers products including banking services, currency exchange, debit and credit cards, virtual cards, Apple Pay, interest-bearing "vaults", personal loans and BNPL, stock trading, crypto, commodities, human resources and other services.

Tiller Systems is a cloud-based iPad point of sale (POS) software company headquartered in Paris, France. Since February 2021, it has been a subsidiary of the mobile payments company known as SumUp.

<span class="mw-page-title-main">OLX</span> Online marketplace

OLX Group is a Dutch-domiciled online market place headquartered in Amsterdam. The OLX consumer brand originated as OnLine eXchange in 2006. OLX Group is owned by Prosus, the international assets division of Naspers.

<span class="mw-page-title-main">SumUp</span> Financial technology company

SumUp is a global financial technology company headquartered in London, United Kingdom. SumUp supports more than 3.5 million merchants in over 30 markets worldwide, and operates business tools created specifically for the micro and nano segment.

Nium is a Singapore-headquartered cross-border payments company. Initially founded by Prajit Nanu and Michael Bermingham, and launched as a consumer-remittance platform Instarem in 2014. In 2016, the company introduced its B2B payments platform and rebranded as Nium in 2019, subsequently elevating Pratik Gandhi to co-founder in 2021.

<span class="mw-page-title-main">Motorway (brand)</span> British used car marketplace

Motorway is an online-only used car marketplace based in the UK. It uses a selling platform to allow users to sell their car to dealers. Motorway is based in London and Brighton in the UK.

<span class="mw-page-title-main">Stellantis</span> Multinational automotive manufacturing corporation

Stellantis N.V. is an American-Italian-French multinational automotive manufacturing corporation formed from the merger in 2021 of the Italian–American conglomerate Fiat Chrysler Automobiles (FCA) and the French PSA Group. The company headquarters is in Hoofddorp, Netherlands.

Chowbus is a technology company specializing in restaurant services, originally established as an online food ordering, payment, and delivery platform. It was founded in Chicago, U.S. in 2016 by Linxin Wen and Suyu Zhang. The company's primary mission is to bridge the gap between consumers and authentic Asian cuisine that is often underrepresented on mainstream delivery platforms. Over time, Chowbus expanded its services beyond delivery, venturing into software solutions for restaurants, including a cloud-based Point of Sale (POS) system.

<span class="mw-page-title-main">Joom</span> Latvian e-commerce marketplace

Joom is a Latvian group of e-commerce and fintech companies founded in June 2016. It also has offices in China, Hong Kong, Brazil, the USA and Germany. At the end of 2022, Joom moved headquarters from Riga to Lisbon, Portugal. Joom currently consists of three businesses.

<span class="mw-page-title-main">Zilch (company)</span> Financial technology company

Zilch Technology Ltd., known as Zilch, is a direct-to-consumer ad-subsidised payments network. Headquartered in London, Zilch combines payments and advertising to offer customers flexible payment solutions for online and in-store transactions, with the vision "to eliminate the cost of consumer credit. For good".

HousingAnywhere is a mid-term rental platform founded in 2009 and headquartered in Rotterdam, Netherlands. The company specializes in connecting international students and professionals with property providers, through its online platform, including booking and payment systems.

References

  1. ↑ "Mangopay | Company Database | ThePaypers". thepaypers.com. Retrieved 2024-03-25.
  2. ↑ "MongoPay Terms and Conditions". www.studely.com. Retrieved 2024-03-25.
  3. ↑ "Farewell from AltFi". www.altfi.com. Retrieved 2024-03-25.
  4. ↑ "The 30 Most Promising Cross-Border Payments Companies". FXC Intelligence. 2023-10-12. Retrieved 2024-03-25.
  5. ↑ "Farewell from AltFi". www.altfi.com. Retrieved 2024-03-25.
  6. 1 2 "How Luxembourg FinTech payment solution MANGOPAY grew internationally". Luxembourg for Finance. Retrieved 2024-03-25.
  7. ↑ "Mangopay Payment Gateway". commercemarketplace.adobe.com. Retrieved 2024-03-25.
  8. ↑ "Salesforce, SAP, Pardot Integration For E-Commerce Store". eShopSync. 2023-07-05. Retrieved 2024-03-25.
  9. ↑ Chapman, Tom (2024-02-15). "Mangopay: Embedded Payments for the Automotive Marketplace". fintechmagazine.com. Retrieved 2024-03-25.
  10. ↑ Dillet, Romain (2015-09-22). "Crédit Mutuel Arkéa Acquires Money Pot And Payment Service Leetchi". TechCrunch. Retrieved 2024-03-25.
  11. ↑ "Credit Mutuel Arkea enters sharing economy with acquisition of The Leetchi Group". Finextra Research. 2015-09-22. Retrieved 2024-03-25.
  12. ↑ Allain, Anne-Laure. "Entretien | Romain Mazeries, Mangopay. " Startup ? Scale-up ? J'aime bien me dire qu'une entreprise est un être vivant en perpétuelle mutation "". Corporate Finance, DeFi, Blockchain News (in French). Retrieved 2024-03-25.
  13. ↑ "How Necessity Proved The Mother Of Invention For MANGOPAY CEO Romain Mazeries | The Fintech Times". thefintechtimes.com. 2019-12-13. Archived from the original on 2019-12-13. Retrieved 2024-03-25.
  14. ↑ Khairnar, Shruti (2022-04-07). "Advent International acquires European paytech Mangopay, invests €75m". fintechfutures.com. Retrieved 2024-03-25.
  15. ↑ "Advent buys MANGOPAY, doles out €75 million to fuel expansion beyond Europe". Tech.eu. 2022-04-06. Retrieved 2024-03-25.
  16. ↑ "Mangopay acquires fraud detection and prevention company Nethone". Tech.eu. 2022-11-29. Retrieved 2024-03-25.
  17. ↑ "MPE | History 2023". www.merchantpaymentsecosystem.com. Retrieved 2024-03-25.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.