MangoPay to hire 250 after growth boosted by private equity backer
MangoPay, a payments provider to several peer-to-peer lending platforms, is planning to hire 250 people this year after reporting 35 per cent growth in 2022.
The group, which was acquired by private equity firm Advent International in April last year, recorded a total transaction value of €11.3bn (£9.9bn) over the period. The acquisition, which included the injection of €75m of primary capital, is helping drive MangoPay’s growth, the business said in a statement.
Read more: MangoPay hires new CFO to support global growth
In 2022, the payments infrastructure provider made 100 new hires, including four executive appointments. These included the hires of Ronen Benchetrit from Bumble as chief technology officer and Carlos Sanchez-Arruti from Amazon as chief financial officer. In addition, it welcomed 243 new customers.
Read more: Mangopay acquires fraud detection firm Nethone
“This has been a transformational year for the company,” said Romain Mazeries, chief executive.
“Our strong growth is proof that our strategy and product excellence is resonating with platforms and marketplace needs. A strategy that Advent International has embraced and accelerated to become a global leader in the payment industry.
“Under Advent’s ownership, we have boosted our C-suite expertise and made our first acquisition, which has put us on a path for great success. As we look forward to 2023, I’m most excited about our overall ability to empower platforms to build and scale the payment system that they need with the technology expertly curated to beat the ever-changing marketplace landscape.”
Launched in 2013, MangoPay serves more than 2,500 platforms and marketplaces.
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