MangoPay, a European payment technology provider for marketplaces and platforms, has acquired Dublin-based payments technology company WhenThen.
Founded in December 2020, WhenThen offers a no code editor for orchestrating payments across e-commerce marketplaces.
“Platform-based businesses, big and small, seek flexibility in how they build and operate their payment stack as they strive to meet their growth and revenue targets. They have had to adopt a one-size-fits-all payments system approach for too long. We want to give them more control, flexibility and scalability,” says Kirk Donohoe, former WhenThen co-founder and CEO, now Chief Product Officer of Mangopay.
MangoPay recently announced its intention to hire 250 people this year as the firm reports 35% of year-on-year growth and total 2022 transaction value reaching over €11.3 billion. The company says it onboarded 243 new customers this year and has already hired 100 new staff across the business, including four C-suite appointments.
The growth trajectory follows a majority investment by Advent International last year and the addition of €75 million of primary capital to grow the business. In November, the firm acquired AI fraud detection and prevention company Nethone, whose technology is designed specifically to protect e-commerce marketplaces.
Romain Mazeries, Mangopay CEO, comments: "Acquiring WhenThen enables Mangopay to rapidly accelerate its payment capabilities whilst providing the best payment experiences in the market. It represents a strategic asset for our growth plans, following the acquisition of Nethone in 2022 that strengthened our fraud capabilities. We are committed to serving our loyal customers, such as Vinted, LeBonCoin, Chrono24, Wallapop and many others, with enhanced features and modular technologies that best meet their needs.”