Mangopay acquires fellow European paytech WhenThen
European payments firm Mangopay has acquired WhenThen, a fellow paytech based in Dublin, Ireland, for an undisclosed sum.
Romain Mazeries, Mangopay CEO
Romain Mazeries, CEO of Mangopay, describes WhenThen as “a strategic asset” for the firm’s growth plans.
Mangopay, which is a platform-specific payment infrastructure provider, says WhenThen’s payment acceptance technology and “global connectivity”, will help Mangopay “rapidly scale its entire payment offering”.
Last spring, Mangopay was itself acquired by a private equity firm, Advent International, which committed €75 million of primary capital to the payments firm.
Later than year, Mangopay acquired fraud detection and prevention firm Nethone, and made several high profile appointments, including CTO Ronen Benchetrit (ex-Zopa, Bumble), CRO Luke Trayfoot (ex-PayPal), and CFO Carlos Sanchez Arruti (ex-Amazon).
WhenThen’s co-founder and CEO, Kirk Donohoe, has now become chief product officer of Mangopay. The teams of the two firms have been merged and the united entity is now operating under the Mangopay brand.
“Platform-based businesses, big and small, seek flexibility in how they build and operate their payment stack,” comments Donohoe. “They have had to adopt a one-size-fits-all payments system approach for too long.”
Founded in 2013, Mangopay claims its offering, built around a programmable e-wallet solution, provides end-to-end infrastructure that “covers all platform payment needs with total integration flexibility and workflows for every business model”. Among its marketplace and platform clients are Vinted, LeBonCoin, Chrono24, and Wallapop.
WhenThen was launched in early 2021 by a group of former Mastercard employees, and raised $6 million in a Seed funding round co-led by Cavalry Ventures and Stride.
