Mangopay

What Mangopay does

Mangopay is a Luxembourg-based, EMI-licensed payment infrastructure provider founded in 2013 that builds wallet-first programmable infrastructure for marketplaces and platforms with multi-party payment flows. The company's core technology centers on programmable e-wallet architecture that allows platforms to create unlimited wallets for buyers, sellers, and partners, supporting wallet-to-wallet transfers, splits, escrow, and multi-currency holding across 20+ currencies. The modular product suite includes FX (currency conversion with competitive bank-beating rates), Multi-currency Accounts (virtual IBANs for local settlement in 30+ countries), Payments (30+ payment methods including cards, Apple Pay, Google Pay, PayPal, Klarna, SEPA, and local methods), Payout (global disbursements with unlimited splits), Identity (KYC/KYB across 190+ countries), and Fraud (Nethone-powered 360° AI detection monitoring 2M+ transactions daily). Infrastructure is API-first and acquirer-agnostic, with self-service developer documentation and white-label embedded finance capabilities.

Mangopay serves approximately 2,500+ platforms across six primary verticals: product marketplaces (Vinted, Chrono24, Wallapop, ManoMano, Gumtree, Debenhams Group, Mirakl-powered marketplaces), financial platforms (Caption), on-demand services (Malt, BlaBlaCar), travel and hospitality (OVO Network, CheckYeti), SaaS platforms, and crypto platforms (InstaXchange). The company has processed €150B+ in transactions and created 700M+ wallets across 30+ countries. Mangopay generates revenue through transaction-based fees on payment volumes, FX margins on currency conversions, subscription and wallet infrastructure fees, and usage-based fraud-prevention and identity-verification services, with volume-tiered pricing and custom enterprise contracts. The company is privately held by Advent International, which acquired it in 2023, and operates from seven offices across Europe (Luxembourg, Paris, London, Warsaw, Madrid, Berlin, Dublin) with 251-500 employees.

Name

Mangopay

Legal name

Mangopay S.A.

Website

https://mangopay.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

251–500 employees

Short description

Mangopay is a Luxembourg-based, EMI-licensed payment infrastructure provider serving marketplaces and platforms with wallet-first multi-party payment flows. It offers programmable wallets, FX, payouts, KYC, and AI fraud prevention across 30+ countries.

Ownership category

akta.pro rank

Product category

Payment Infrastructure

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Finance Services (6199), Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)

akta.pro secondary industries

Digital Wallet Platforms (Consumer & Merchant) (BPAMAFAC), Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA), A2A Checkout & Merchant Acceptance Solutions (FSAMAFAF), A2A Payment Initiation Service Providers (PISPs) (FSAMAFAB), Alternative Payment Methods (APMs) Enablement (BNPL, wallets, local methods) (FSAMACAE)

Keywords

• Payment infrastructure
• E-wallet platform
• Marketplace payments
• Embedded finance
• Payment orchestration

Headquarters

HQ city

Luxembourg

HQ country

Luxembourg

HQ region

Europe

Offices7 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Payment Processing Fees: Transaction-based fees on payment volumes processed through the platform. Volume-based discount model where higher payment volumes result in lower fees. Primary revenue stream from pay-in and payout transactions.
2. FX Margins and Currency Conversion: Revenue generated from foreign exchange margins on currency conversions. Platforms can monetize transactions through embedded FX features, generating revenue from currency conversion spreads.
3. Wallet and Infrastructure Fees: Fees for wallet infrastructure, virtual IBANs, and payment operations. Includes charges for wallet-to-wallet transfers, e-wallet re-spend capabilities, and unlimited IBAN usage.
4. Fraud Prevention and Identity Services: AI-powered fraud prevention solution with real-time risk recommendations, customizable ML models, and global traffic analysis. Identity verification services for 190+ countries.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels6 records

Core offering

Mangopay provides wallet-first payment infrastructure for platforms and marketplaces, enabling multi-party payment flows through programmable e-wallets, FX and currency conversion, virtual IBANs, payment acceptance across 30+ methods, global payouts, identity verification, and AI-powered fraud prevention. The infrastructure is sold as a regulated, API-first platform with EMI licensing from Luxembourg's CSSF, designed for B2B platform operators rather than end consumers.

Product overview

Mangopay is a wallet-first modular payment infrastructure platform designed for multi-party payment flows. The core platform consists of programmable e-wallet infrastructure with supporting modules including FX (currency conversion), Multi-currency Accounts (virtual IBANs), Payments (30+ payment methods), Payout (global disbursements), Identity (KYC/KYB verification across 190+ countries), and Fraud (AI-powered 360-degree fraud prevention). The architecture is API-first and acquirer-agnostic, allowing platforms to use individual modules or the full suite. The wallet infrastructure serves as the central component enabling fund holding, splitting, and movement across buyers, sellers, and partners. Acquisitions include Nethone (fraud prevention technology, 2022) and WhenThen (payment orchestration platform, 2023). The platform targets diverse verticals including product marketplaces, financial platforms, on-demand services, travel, SaaS, and crypto platforms.

Differentiator

Problem solved

Functional benefit

Brands

• Nethone: AI-powered fraud prevention solution offering 360° fraud detection, device fingerprinting, and dark-web intelligence for payment platforms and BNPL providers. Operates as a Mangopay company.

Products and services

• Wallet Multi-currency e-wallet infrastructure enabling platforms to create unlimited wallets for buyers, sellers, and partners. Supports wallet-to-wallet transfers, e-wallet re-spend, and programmable money movement for automated fund distribution and reconciliation. Designed for platform operators requiring multi-party payment flows.
• FX

Quantifiable outcome

• 34% less time spent on operations by platforms using Mangopay
• +8 more outcomes

Named customers19 records

Segments6 records

Ideal customer profiles7 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration26 records

AI capability5 records

Feature7 records

Partnerships

Eleven partnerships are on record, tiered flagship and core.

• VintedflagshipStrategic or Co-development Partner · 21 May 2026Extended long-standing payments partnership with Europe's leading secondhand fashion marketplace. Mangopay continues as Vinted's payment service provider across Europe after more than a decade of collaboration, providing wallet infrastructure, payment processing, and payout capabilities.
• CaptioncoreStrategic or Co-development Partner · 18 February 2026Investment platform Caption selected Mangopay as payments infrastructure partner to support scaling of its platform. Caption is France-licensed asset management company regulated by AMF and ACPR. Mangopay supports B2B services for asset managers and wealth advisors.
• Club EmployéscoreStrategic or Co-development Partner · 27 January 2026Employee-benefits payments platform partnered with Mangopay to streamline employee-benefits payments and scale across Europe.
• InstaXchangecoreStrategic or Co-development Partner · 27 November 2025Regulated virtual asset service provider partnered with Mangopay for multi-currency fiat-to-crypto payments and localized experiences. Mangopay provides fiat payment services, virtual IBANs, wallets, and fraud prevention tools.
• GumtreecoreStrategic or Co-development Partner · 4 November 2025Partnership to integrate Mangopay's wallet system, transforming Gumtree into a fully transactional marketplace by 2026. Aims to enhance transaction safety and user trust with significant platform shift from offline to digital payments.
• Debenhams GroupflagshipStrategic or Co-development Partner · 1 October 2025Multi-year partnership with UK online department store (including PrettyLittleThing, boohoo, Karen Millen brands). Mangopay's wallet infrastructure to simplify payouts, enhance operations, and create future-ready foundation for seamless multi-vendor commerce.
• AriacoreStrategic or Co-development Partner · 3 April 2025B2B payments specialist integrated Mangopay to power international growth. Aria uses Mangopay's virtual accounts linked to customer wallets, streamlining pre-finance workflows.
• PaybyrdcoreStrategic or Co-development Partner · 1 October 2024Payment gateway partnered with Mangopay to optimize payment experiences for merchants. Paybyrd transitioned to user-owned Virtual Accounts linked to partner wallets, reducing settlement delays.
• WhenThencoreTechnology or Integration · 23 March 2023Dublin-based payment orchestration platform acquired by Mangopay in March 2023. The acquisition expanded Mangopay's payment orchestration capabilities, improving pay-in features, payment routing, customer experience, and automating payment processes.
• NethonecoreTechnology or Integration · 29 November 2022Polish fraud prevention company acquired by Mangopay with approximately €75M investment from Advent International. Expanded Mangopay's proprietary 'Know Your Users' technology using machine learning to improve fraud detection and authentication for online payment platforms.
• MiraklflagshipStrategic or Co-development PartnerStrategic partnership announced to accelerate growth of European marketplaces. Mirakl Payout integrates Mangopay's e-wallet technology and KYB capabilities, enhancing marketplace payout solutions.

Scale indicators22 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Stripe: Stripe Connect offers multi-party payment splits and embedded financial services for marketplaces and platforms. Directly competes with Mangopay's wallet-first, multi-currency platform infrastructure across overlapping customer segments including marketplaces, SaaS, and on-demand platforms.
• Checkout.com: Checkout.com provides global payment processing with strong marketplace and platform optimization features. Direct competition in the platform/marketplace vertical with overlapping payment acceptance, FX, and multi-currency capabilities.
• Marqeta: Marqeta provides card issuing and payment infrastructure for modern platforms, including BNPL providers. Comparable in its platform-first, API-driven architecture and focus on enabling embedded financial experiences for digital-first businesses.
• Trust Payments: Trust Payments offers multi-acquirer payment orchestration and gateway services with strong European market presence. Comparable as a payment infrastructure provider serving marketplaces, platforms, and merchants across multiple geographies and payment methods.
• Payoneer: Payoneer provides cross-border payment solutions and multi-currency accounts for marketplaces, freelancers, and SMBs. Overlaps with Mangopay's on-demand, freelance, and marketplace segments, with similar virtual IBAN and cross-border payout infrastructure.
• Modulr: Modulr is a UK-based payments-as-a-service provider offering embedded account, payment, and payout infrastructure via API. Comparable as a European EMI-licensed payments infrastructure provider enabling platforms to embed payment flows.

Broad incumbents

• Adyen: Adyen is a global payments platform serving enterprise merchants with unified commerce, processing, and acquiring capabilities. Competes with Mangopay for large platform payment processing volume, though Adyen's portfolio is broader and not specialized in marketplace wallet architecture.
• Worldpay: Worldpay is a large global payment processor and acquirer serving enterprise merchants including marketplaces. Competes for payment processing volume but as a broad incumbent rather than a specialist in wallet-first marketplace architecture.

Emerging players

• Circle: Circle provides USDC stablecoin infrastructure and fiat-crypto payment rails. Comparable as a crypto-fiat infrastructure provider serving crypto platforms, an area where Mangopay competes with fiat on/off-ramp services.
• PayDo: PayDo offers multi-currency IBANs, payment processing, and merchant accounts with European licensing. Comparable as an emerging payment infrastructure provider targeting platforms, marketplaces, and high-risk merchants with similar multi-currency and IBAN capabilities.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/mangopay
• YouTubeyoutube.com/@mangopay-payment
• LinkedInlinkedin.com/company/mangopay
• Facebookfacebook.com/mangopaycom

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mangopay