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Mangopay

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Mangopay
IndustryFintech
Founded2013
FounderCeline Lazorthes and Romain Mazeries
HeadquartersLuxembourg
Key people
  • Sergi Herrero (CEO)
  • Carlos Sanchez Arruti (CFO)
  • Xavier Garambois (Executive Chairman)
OwnerAdvent International
Number of employees
c. 500 (2024)
Websitemangopay.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 2023, 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 2023, 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]

In May 2024, Mangopay announced the launch of its payment processor-agnostic Fraud Prevention solution to defend against threats, including account takeover, reseller fraud, payment fraud, chargebacks, and returns abuse.[6][7]

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.[8][9][10]

History

[edit]

Mangopay was launched in 2013 and was a spin off from Leetchi.com, which was founded by Celine Lazorthes in Paris, in 2009.[11][8]

In 2015, Mangopay and Leetchi.com were acquired by French bank Crédit Mutuel Arkéa.[12][13]

In 2018, Romain Mazeries was appointed to the position of Mangopay CEO.[14][15]

In April 2022, Mangopay was acquired by private equity firm Advent International, which injected €75m of primary capital.[16][17]

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.[18]

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.[19]

In July 2024, Mangopay was named in the world's top 250 fintech companies by CNBC.[20]

In September 2024, Mangopay announced the appointment of former global director for payments and commerce partnerships at Meta Sergi Herrero as CEO.[21][22]

References

[edit]
  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. ^ "Mangopay launches new AI driven fraud prevention solution for online retail and FinTech platforms". Retail Technology Innovation Hub. 2024-09-20. Retrieved 2024-09-20.
  7. ^ "Mangopay introduces fraud prevention solution". thepaypers.com. Retrieved 2024-09-20.
  8. ^ a b "How Luxembourg FinTech payment solution MANGOPAY grew internationally". Luxembourg for Finance. Retrieved 2024-03-25.
  9. ^ "Mangopay Payment Gateway". commercemarketplace.adobe.com. Retrieved 2024-03-25.
  10. ^ "Salesforce, SAP, Pardot Integration For E-Commerce Store". eShopSync. 2023-07-05. Retrieved 2024-03-25.
  11. ^ Chapman, Tom (2024-02-15). "Mangopay: Embedded Payments for the Automotive Marketplace". fintechmagazine.com. Retrieved 2024-03-25.
  12. ^ Dillet, Romain (2015-09-22). "Crédit Mutuel Arkéa Acquires Money Pot And Payment Service Leetchi". TechCrunch. Retrieved 2024-03-25.
  13. ^ "Credit Mutuel Arkea enters sharing economy with acquisition of The Leetchi Group". Finextra Research. 2015-09-22. Retrieved 2024-03-25.
  14. ^ 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.
  15. ^ "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.
  16. ^ Khairnar, Shruti (2022-04-07). "Advent International acquires European paytech Mangopay, invests €75m". fintechfutures.com. Retrieved 2024-03-25.
  17. ^ "Advent buys MANGOPAY, doles out €75 million to fuel expansion beyond Europe". Tech.eu. 2022-04-06. Retrieved 2024-03-25.
  18. ^ "Mangopay acquires fraud detection and prevention company Nethone". Tech.eu. 2022-11-29. Retrieved 2024-03-25.
  19. ^ "MPE | History 2023". www.merchantpaymentsecosystem.com. Retrieved 2024-03-25.
  20. ^ "The world's top 250 fintech companies: 2024". CNBC. 2024-07-09. Retrieved 2024-09-20.
  21. ^ PYMNTS (2024-09-17). "Mangopay Names Meta Veteran Sergi Herrero as CEO". PYMNTS.com. Retrieved 2024-09-20.
  22. ^ Nikolova, Maria (2024-09-17). "Mangopay appoints Sergi Herrero as CEO". FX News Group. Retrieved 2024-09-20.
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