MangoPay, a European payment technology provider focused on marketplaces and platforms, has acquired the Dublin-based payments technology firm WhenThen.
Founded in December 2020, WhenThen provides a no-code editor that facilitates payment orchestration for e-commerce marketplaces. Kirk Donohoe, the former co-founder and CEO of WhenThen, now serving as Chief Product Officer at MangoPay, stated, “Platform-based businesses, regardless of size, seek flexibility in building and managing their payment systems to achieve their growth and revenue goals. The one-size-fits-all approach to payments has been inadequate for too long. We aim to offer greater control, flexibility, and scalability.”
MangoPay recently announced plans to hire 250 new employees this year, capitalizing on a 35% year-on-year growth, with total transaction value in 2022 exceeding €11.3 billion. The company onboarded 243 new customers and hired 100 new staff members, including four C-suite appointments.
This expansion follows a majority investment by Advent International last year, which included €75 million in primary capital to support business growth. In November, MangoPay acquired Nethone, a company specializing in AI fraud detection and prevention, aimed at protecting e-commerce marketplaces.
Romain Mazeries, CEO of MangoPay, remarked, “The acquisition of WhenThen allows us to rapidly enhance our payment capabilities and provide top-tier payment experiences. It is a strategic asset for our growth plans, following our acquisition of Nethone in 2022 that reinforced our fraud prevention capabilities. We are dedicated to delivering improved features and modular technologies that cater to the needs of our valued customers, including Vinted, LeBonCoin, Chrono24, Wallapop, and many others.”