SlimPay, the French expert in recurring payments, is expanding in Europe and announces the opening of two European offices in Berlin and Amsterdam.
In addition, Edouard de La Jonquière, Cofounder and former CEO of Mention.com is joining the company as VP Marketing.
SlimPay is on a mission to become the #1 European Recurring Payment Gateway. Taking advantage of the Single European Payment Area (SEPA zone) that comprises 34 countries in Europe, the French startup is currently focused on a SEPA Direct Debit (SDD), entry-point product for recurring payments.
"Our vision is to provide any company doing business online with a full range of payment products to do recurring payments," says Jerome Traisnel, Cofounder and CEO of SlimPay. "Subscription is not only a form of billing cycle nor only a business model: subscription is a mode of consumption changing global commerce. It's not new but it's growing incredibly fast and impacting more and more categories: musicand TV, transportation, software, leisure, ... We estimate the market at 2,500 billion € in the 5 major European countries," Traisnel adds.
This ambition is already in motion: with 2.4 billion € processed in 28 countries last year (2014), SlimPay operates recurring payments for significant players in several verticals, including EDF, SFR, Nespresso, iDTGV, SoLocal, Deezer, Bein Sport, Price Minister/Rakuten. "We have gained a certain credibility in terms of recurring payments processing in France, our domestic market. It's now time for us to scale up and expand throughout the SEPA zone. The opening of our Amsterdam and Berlin offices will allow us to tackle the Benelux and Germany/Austria markets in which direct debit is a well- known payment method but needs to be rejuvenated," Traisnel declares.
If SlimPay intends to keep on expanding its historical Fortune 500(0) customer base internationally, the company also wants to tackle the long-tail market and attract European startups. To sustain this effort, SlimPay is announcing the recruitment of Edouard de La Jonquière, Cofounder and former CEO of Mention.com. Edouard is joining SlimPay as VP Marketing. "The recruitment of Edouard shows that we are investing to expand our customer base downmarket, which is a key element of the SlimPay path for growth. His knowledge and expertise of this ecosystem, as well as his strong startup culture will help us spread our product on a more "plug & play" distribution mode," says Traisnel.
With the objective of doubling the team and the revenue by the end of 2015, SlimPay, which is already profitable, intends to massively invest in the next 3 years to achieve its ambition.