MangoPay to hire 250 after growth driven by private equity backer – P2P Finance News


MangoPay, a payment provider on various peer-to-peer lending platforms, plans to hire 250 people this year after posting 35% 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) in the period. The acquisition, which included the injection of 75 million euros in primary capital, is helping to 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 CTO and Carlos Sanchez-Arruti from Amazon as CFO. In addition, it welcomed 243 new customers.

Read more: Mangopay acquires fraud detection company Nethone

“This has been a transformational year for the company,” said Romain Mazeries, CEO.

“Our strong growth is proof that our strategy and product excellence is resonating with platforms and market needs. A strategy that Advent International has adopted and accelerated to become a global leader in the payments industry.

“Under Advent’s ownership, we have increased our C-suite experience and made our first acquisition, which has put us on a path to great success. As we look to 2023, I am very excited about our ability global to enable platforms to build and scale the payment system they need with expertly selected technology to overcome the ever-changing market landscape.”

Launched in 2013, MangoPay serves over 2,500 platforms and marketplaces.

Read more: Kuflink switches from MangoPay to Stripe and increases user security

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