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*Millions of businesses using Mangopay payment infrastructure can offer their customers flexible and transparent payment options with Hokodo’s solution.*

**London, May 2023** – [Hokodo](https://www.hokodo.co/), Europe’s leading provider of digital trade credit, and [Mangopay](https://mangopay.com/), platform-specific payment infrastructure provider, announced a strategic partnership that **makes Hokodo's solutions available to Mangopay B2B platforms**. This cooperation will allow B2B marketplaces to foster their growth and scale their payments capability.

Marketplaces continue to become increasingly ubiquitous in the B2B e-commerce space. Thousands of industry-specific marketplaces are now in operation, serving as a bridge connecting suppliers with business buyers globally. 

Large suppliers and other merchants are capitalizing on the phenomenon, with **75% actively developing marketplace strategies**. With up to **80% of B2B transactions expected to take place online by 2025**, seamless online payment experiences are a priority for B2B buyers.

As the B2B marketplace industry continues to grow, the payment experience remains a key differentiator for such players. Enhancing Mangopay’s payment infrastructure capabilities with Hokodo is a meaningful step to help B2B players drive global growth for marketplaces. 

With their combined solutions and expertise, the two companies deliver a comprehensive payment offering and optimized payment flows for B2B marketplaces. From the **granting of credit terms and payment collection through the disbursement of funds to sellers and marketplace operators’ commissions, funds flow smoothly thanks to the partnership**.

*“The success of a given marketplace relies partly on providing buyers and sellers with a payment experience that they cannot replicate off-platform. Business buyers expect payment terms, while suppliers want to get paid upfront,” explains [**Raphael Caruso**](https://www.linkedin.com/in/raphaelcaruso/), **Director of Strategic Projects & Partnerships at Hokodo**. “Marketplace operators also need access to their funds as soon as possible to avoid working capital issues. Together, Mangopay and Hokodo’s complementary solutions satisfy the demands of each party.”*

*“Businesses need to move quickly to keep up with changing consumer preferences to help drive increased conversion," said [**Luke Trayfoot**](https://www.linkedin.com/in/luke-trayfoot-04042430/?originalSubdomain=uk), **Chief Revenue Officer at Mangopay.** “For ten years, Hokodo has been a powerful solution for businesses to reach new customers and drive growth. Mangopay users can now get started accepting payments with Hokodo in mere minutes and providing better payment user experience which ensures higher conversion."*

---
**ENDS**

**Contact Hokodo**
Ethan Cumming, Content & PR Manager at Hokodo -  contact@hokodo.co 

**Contact Mangopay**
Manuel Chaplet - European PR Manager, Mangopay - press@mangopay.com 

**About Hokodo**
Hokodo is a fintech scaleup bringing B2B commerce into the 21st century with Digital Trade Credit and B2B Buy Now, Pay Later solutions. Hokodo’s technology empowers B2B merchants to sell more by offering credit terms to their business customers instantly, even on their first purchase. In turn, customers benefit from additional payment terms, interest-free, through a frictionless BNPL checkout experience. Hokodo’s solutions are backed by Lloyd’s of London via the Channel Syndicate, a unit of SCOR SE.
[*Hokodo*](https://www.hokodo.co/)

**About Mangopay**
Mangopay empowers the platform economy with its modular payment infrastructure. Created in 2013, Mangopay has supported 2,500+ platforms and marketplaces. Built around its programmable e-wallet solution, Mangopay’s end-to-end infrastructure covers platform payment needs, from pay-in to payout, for many platform business models and workflows. In March 2023, Mangopay was named “Best Platform and Marketplace Provider” at the Merchant Payments Ecosystem (MPE) Awards for providing best-in-class payment services to marketplaces and platforms.
[*Mangopay*](https://mangopay.com/)


Hokodo and Mangopay collaborate to deliver a payment infrastructure tailored for B2B platforms

*The firm specialising in wellness and beauty has chosen Mangopay as the payment infrastructure provider for its marketplace, launched in 2022*

**Madrid, April 11th 2023** - Beauty retailer, Perfume's Club, has selected Mangopay, platform-specific payment infrastructure provider, to manage seller funds for its marketplace, which has been live since 2022. The partnership between the two has facilitated the launch and rapid expansion of the Perfume's Club marketplace, which today, less than a year after its creation, has more than 60,000 products on offer in addition to the 40,000 in its own catalog.

In 2022, the Perfume's Club marketplace exceeded 50 million visits and has managed to extend its presence to more than 14 countries, reaffirming itself as one of the most important references in online perfumery. Perfume's Club was, in fact, one of the ecommerce best valued by users in 2022, according to a study by the OCU. In the longer term, the beauty firm estimates that its marketplace will maintain its rapid growth, with its offer reaching one million products in two years.

The Mallorcan company has placed its trust in Mangopay for its optimised solution, focused on the go-to-market strategy. The collaboration between the two has materialised through the Mirakl connector. 

In addition, Mangopay offers Perfume's Club the possibility to integrate Paypal with a flexible end-to-end solution, specific for marketplaces, which allows them to choose the optimal payment methods and partners for their Marketplace. The complete solution provided by Mangopay boosts compliance and cybersecurity, meeting PSD2 requirements and facilitating the fight against fraud, money laundering and terrorist financing. All of this, together with the dedication and professionalism of the Mangopay team, were key to having the payment infrastructure in place for the launch and growth of the marketplace.

**Marc Torrecilla, Marketplace Manager, Perfume's Club**, underlines:"We are delighted to work with Mangopay to optimize our marketplace. It is key to the development of Perfume's Club. We needed a trusted payment partner to support our growth. Mangopay's advanced technology allows us to manage multiple payment flows and easily add new products and merchants to our marketplace."

For Mangopay, Perfume's Club is a relevant customer, not only because of the company's projection, but also because it is its first customer through Mirakl in Spain. Nicolas Fournié, Mangopay's Country Manager for Spain and Portugal, comments: "We are proud to be able to accompany Perfume's Club on its path to leadership in online perfumery, supporting our client in the development and growth of its marketplace. Spain is a key market for Mangopay, and having national partners as relevant as Perfume's Club is fundamental for our growth and expansion in this country. In addition, the platform for marketplaces Mirakl, is our first partner in Spain, and we are very happy to bring to Spain this partnership which, as we have already seen in other markets, is key to the rapid development of marketplaces".

The year 2022 was key for the consolidation of the scale-up business globally and in the Spanish market, where it already has more than 100 customers. 

**ABOUT Mangopay**
 
Mangopay empowers the platform economy with its unique and comprehensive payment infrastructure. Created in 2013, Mangopay serves 2,500 + leading platforms and marketplaces. Built around its programmable e-wallet solution, Mangopay's end-to-end infrastructure covers all platform payment needs with total integration flexibility and workflows for every business model.
 www.mangopay.com

Mangopay chosen by Perfume's Club to manage marketplace seller funds

- *Following the acquisition of fraud detection company Nethone in 2022, Mangopay continues its ambitious growth plan by acquiring payment orchestration platform WhenThen to scale its payment offering.*
- *Mangopay and WhenThen’s combined technologies will offer platforms enhanced pay-in capabilities, intelligent payment routing, and improved customer experiences to reduce costs and increase conversion rates across the full payment value chain.*
- *WhenThen co-founder and ex-Mastercard executive Kirk Donohoe will join Mangopay’s executive committee as Chief Product Officer.*
 
 

**London, 23rd March 2023** – Mangopay, platform-specific payment infrastructure provider, announces the acquisition of WhenThen, a Dublin-based payments technology company, which powers payment acceptance and automates payment operations for online businesses worldwide. With WhenThen’s technology and global connectivity, Mangopay will rapidly scale its entire payment offering to unlock significant value for its existing platform customers, through multi-processor relationships and a greater level of automation.

Through this acquisition, Mangopay continues to strengthen its product capabilities and add new revenue streams by utilising its acquisitions of both WhenThen and Nethone as fully integrated offering.

**A complete payment solution built entirely for platforms**

In a single integration, WhenThen’s and Mangopay’s combined technologies will give platform customers :

- Powerful **payment orchestration**, enabling them to do intelligent payment routing to reduce costs, remove barriers at checkout and boost conversion rates on all payment methods.
- Increase local checkout conversion rates and meet the expectations of their customers by instantly being able to add **payment methods** to their checkout flows with clicks, through a self-service dashboard.
- Securely store and access customer card data via a native cloud **PCI DSS Level 1 certified card vault** that not only tokenises customer cards but also enables network tokens (Visa, Mastercard, AMEX) and **automatic card updater**, ensuring platforms always have their customers’ latest card details on file.
- Automate time-consuming manual payment operations through a central **Payment Insights and Operations dashboard** to unlock hidden revenue by fixing payment inefficiencies and issues like disputes, refunds, declines, and failed transactions.

**Romain Mazeries, CEO, Mangopay**, comments: “*As the platform economy continues to grow, creating amazing payment experiences remains a key factor for our customers and prospects. Acquiring WhenThen enables Mangopay to rapidly accelerate its payment capabilities whilst providing one of the best payment experiences in the market. It represents a strategic asset for our growth plans, following the acquisition of Nethone in 2022 that strengthened our fraud capabilities. We are committed to serving our loyal customers, such as LeBonCoin, Chrono24, Wallapop and many others, with enhanced features, and modular technologies that best meet their needs*”. 

“*We are extremely excited to embark on Mangopay’s journey and become the next global payment leader for platforms*,” adds Kirk Donohoe, former co-founder & CEO of WhenThen, now Chief Product Officer of Mangopay. “*Platform-based businesses, big and small, seek flexibility in how they build and operate their payment stack as they strive to meet their growth and revenue targets. They have had to adopt a one-size-fits-all payments system approach for too long. We want to give them more control, flexibility and scalability.*”

WhenThen’s entire team and products have now fully merged with Mangopay and will operate under the Mangopay brand. 

Joining as Chief Product Officer, WhenThen co-founder Kirk Donohoe becomes the latest addition to Mangopay’s Executive Committee, which has seen the arrival of several new senior payment and marketplace executives over the past year, including CTO Ronen Benchetrit (ex-Zopa, Bumble), CRO Luke Trayfoot (ex-PayPal), General Counsel Olympe Leflambe (ex-Ebay), CFO Carlos Sanchez Arruti (ex-Amazon) and Nethone CEO Hubert Rachwalski.


**ABOUT MANGOPAY**
 
Mangopay empowers the platform economy with its unique and comprehensive payment infrastructure. Created in 2013, Mangopay serves 2,500 + leading platforms and marketplaces. Built around its programmable e-wallet solution, Mangopay's end-to-end infrastructure covers all platform payment needs with total integration flexibility and workflows for every business model.

Mangopay announces the acquisition of payment orchestration fintech WhenThen to boost its  pay-in capabilities

*Olympe Leflambe, former Senior Legal Director, Payments EU & APAC at eBay, will be joining the COMEX and focusing on strengthening the firm's risk management capabilities and ensuring that Mangopay offers a best-in-class customer experience.*

**Paris, 29 September 2022** – Mangopay, a major European payment solutions provider for marketplaces and platforms, announced the appointment of Olympe Leflambe as General Counsel, Legal & Compliance. This newly created position underlines Mangopay's strong commitment to innovating in a regulated environment, in order to not only meet its customers and prospects' new uses and needs, but also to ensure the scale-up offers a best-in-class customer experience that is compliant with legal obligations.

The appointment of Olympe Leflambe, who will report to CEO Romain Mazeries, is another step for Mangopay in becoming one of the key global payment solutions providers powering the platform economy. Bringing her wealth of experience in legal practice to Mangopay, Olympe will provide strategic advice to the company’s senior leadership team as the company makes moves to strengthen its commitment to regulatory compliance and engage with policymakers and regulators globally.

With more than 20 years of experience in the payment industry, Olympe joins Mangopay at a critical time amid an ever-evolving digital asset landscape, where the impetus for regulation is growing. Olympe will manage and develop the legal and compliance teams to support the scale-up’s strong ambitions. Moreover, she will provide business-enabling legal and compliance guidance and work closely with Mangopay's leadership team and its stakeholders to consolidate its leadership status within the industry .

Prior to joining Mangopay, Olympe was Senior Legal Director, Payments EU & APAC Senior at eBay. She also worked at Amazon as Senior Corporate Counsel – EU payments where she provided support and strategic advice on a wide range of commercial and regulatory matters relating to Amazon EU payments businesses. During her career in the marketplace and payment industries, Olympe Leflambe has also worked at PayPal where she supported the activity in Southern Europe & Eastern Europe. She holds an international business licence degree from the University of La Sorbonne in Paris and a master’s degree in law from the University of Lausanne where she wrote a thesis on Legal aspects of Electronic money.

“*Platforms continue to be the paradigm shift in digital commerce that is connecting the regulation and compliance are crucial to sustaining its role in the transformation of the payments ecosystem. I am thrilled to join Mangopay at such a key moment to lead its global Legal and Compliance team*”, said **Olympe Leflambe**, General Counsel, Legal & Compliance at Mangopay. “*I will be bringing my deep knowledge and experience to an exciting digital payment solutions pioneer , which is focusing 100% of its efforts on the specific needs of marketplaces and platforms. I look forward to working with the team to continue to uphold the highest standards of regulatory compliance, in all of the jurisdictions in which it operates*''.

Mangopay CEO, **Romain Mazeries** said: ”*I am pleased to welcome Olympe Leflambe. As our team focuses on expanding our product offers to accelerate Mangopay's growth, we believe that Olympe’s experience and legal knowledge will prove to be an invaluable asset to us. I am confident that she will strategically steer our team to set new industry standards for regulatory compliance and implement risk management best practices as we embark on our next phase of growth globally. She joins us at a critical time and will play a key role working with me, our Board and the rest of our team.*”

**ABOUT MANGOPAY**
Mangopay empowers the platform economy with its unique and comprehensive payment infrastructure. Created in 2013, Mangopay serves 2,500 + leading platforms and marketplaces. Built around its programmable e-wallet solution, Mangopay's end-to-end infrastructure covers all platform payment needs with total integration flexibility and workflows for every business model.

Mangopay appoints Olympe Leflambe as General Counsel, Legal & Compliance

*Guido Kuhring, former Head of Sales Marketplaces DACH at PayPal, will be responsible for driving the business development and growth of the scale-up in the key region of Central and Northern European.*


**Paris, 5 July 2022** – Mangopay, a major European payment solutions provider for marketplaces and platforms, announced the appointment of Guido Kuhring as Head of Sales Central and Northern Europe. This appointment underlines the strong ambitions on the DACH market, a strategic region for the development of the scale-up where it works with marketplaces and platforms like Chrono24, PaulCamper or Elopage. In this position, Guido Kuhring will be responsible for strengthening Mangopay's presence in the region, developing the DACH and Nordic teams and expanding the network of local and regional partners. Guido will report to Pierre Lion, Chief Growth Officer at Mangopay.

Guido Kuhring's appointment is a key milestone for Mangopay, following the arrival of Advent International as a new majority shareholder. It emphasises the fintech's ambitions to become one of the world's leading payment solutions powering the platform economy.

With more than 15 years of experience in senior positions within PSPs and sales roles with global corporations, Guido Kuhring has a deep understanding of the development and scalability issues related to marketplaces and platform businesses. Based in Berlin, Guido Kuhring will be responsible for developing the scale-up's presence on the central and northern European market through the implementation of an acquisition strategy and the support of partner platforms. Guido Kuhring will also be involved in recruiting new profiles and retaining talent to support the strong ambitions in the DACH & North markets, both strategic regions for the development of the scale-up.

The 42-year-old father of one daughter, studied International Business and Marketing at the University of Potsdam and Rotterdam, which allowed him to work in various sectors. Initially Brand Manager for Reckitt, he joined Henkel in 2011 as Business Development Manager Eastern Europe before leaving 7 years later as Sales Director Germany and Switzerland to join PayPal in 2018. Within PayPal Guido held several positions until 2020 when he was appointed Head of Marketplace Sales DACH.

"*Joining Mangopay is a great opportunity to be part of a market-leading, sustainable and ambitious organisation which is focusing its efforts 100% on the specific needs of marketplaces and platforms* ," says **Guido Kuhring**, Head of Sales Central and Northern Europe at Mangopay. “*Along with my team, I will be particularly focused on implementing a local sales strategy in the relevant markets that combines enterprise, scale-up as well as streamlined start-up account acquisition in this high potential region. And I am confident that my skills and previous experience will enable me to succeed at implementing Mangopay's vision, especially as Mangopay's value proposition for platforms has never been more relevant. This is going to be an exciting new adventure*”.

"*I am pleased to welcome Guido Kuhring into our team. His leadership and expertise will be an asset in the implementation of this strategy and an essential support to drive Mangopay's growth in a strategic region*," said **Pierre Lion**, Chief Growth Officer at Mangopay. "*Guido joins us as we accelerate our development since Advent International became the new majority shareholder. We are pleased to benefit from his experience, particularly in business, to support Mangopay's expansion. He will help the teams to grow, especially through his expertise and network, so that we can accompany our customers in the most important transformation that the e-commerce industry has ever seen*”.

**ABOUT MANGOPAY** 
Mangopay empowers the platform economy with its unique and comprehensive payment infrastructure. Created in 2013, Mangopay serves 2,500 + leading platforms and marketplaces. Built around its programmable e-wallet solution, Mangopay's end-to-end infrastructure covers all platform payment needs with total integration flexibility and workflows for every business model.

Mangopay appoints Guido Kuhring as Head of Sales Central and Northern Europe

- *Charities enables any marketplace and Internet crowdfunding site to support charitable causes.*

- *Several Mangopay customer platforms have activated the "Charities" feature and have already collected several thousand euros to support partner associations*

- *The Charities offer will enable thousands of businesses using Mangopay to begin supporting associations to encourage the generosity and solidarity of the French.*

**Paris, February 15, 2022** – Mangopay, a leading European provider of payment solutions for marketplaces and crowdfunding platforms, has unveiled its new "charities" offering. With this online donation collection solution, Mangopay offers its customers the opportunity to engage their communities in support of a cause that is important to them.

## Facilitating engagement on marketplaces
Consumers are increasingly attentive to brands' commitment to social and environmental responsibility. Indeed, more than 50% of French people consider that a brand's priority should be the search for meaning and a positive contribution to society's issues. To meet these new requirements, more and more brands are now willing to commit themselves. 

To support them in these efforts, Mangopay provides marketplaces with a new way to engage their communities and encourage their generosity on a daily basis by supporting associations that are aligned with their values. All donations made through Mangopay are donated to the charity of their choice. The "charities" offer is completely free for the platforms, Mangopay takes a monthly 2% management fee from the association.

The "charities" offer is a solution that allows Mangopay customers to set up a donation offer, over a predetermined period of time, for the benefit of an association chosen by the company. To do this, Mangopay supports companies in their desire to make a commitment by putting them in touch with associations that correspond to their values, but also takes charge of the regulatory and operational implementation of the fundraising.

## A vast network of beneficiary associations
Today, more than ten associations can already benefit from donations from the "charities" offer. Among these associations are Le Refuge, Sidaction, Médecins Sans Frontières, SOS Villages d'Enfants, Secours populaire français, the SPA and Planète Mer, Care France, Médecins du Monde... Finally, any association wishing to diversify its sources of revenue through a new acquisition channel can join the network of beneficiary associations.

"*The world is changing. Society is asking companies to get involved and contribute to a better future. In order to meet these needs we have developed this offer. We are proud to have created this solution to encourage the generosity and solidarity of the French in these difficult times. This project is in line with Mangopay's DNA and our vision of the company of tomorrow*," said **Romain Mazeries**, CEO at Mangopay and initiator of the Charities offer. 

## La Ruche qui dit Oui! first company to subscribe to the offer
La Ruche qui dit Oui ! is the first company to subscribe to this offer and to commit to Secours populaire français in its action for a more just and united world. Thus, for any order placed on the site, fellows can now round up their basket to the next euro. 100% of the donations will be donated to the association. This is an opportunity to support the volunteers working for food aid, access to housing, health prevention and leisure activities.

"*With this partnership, we are reinforcing our responsible commitments, which are firmly anchored in our DNA and that of our customers. This operation makes it possible to anchor donations in the daily lives of employees and customers alike and to generate new forms of solidarity without ever imposing anything. Donations remain personal, and easy to accept when clients wish to do so. Everyone can choose to help to the extent of their abilities*," explains **Gregoire de Tilly**, CEO of La Ruche qui dit Oui!


**ABOUT MANGOPAY** 
Mangopay empowers the platform economy with its unique and comprehensive payment infrastructure. Created in 2013, Mangopay serves 2,500 + leading platforms and marketplaces. Built around its programmable e-wallet solution, Mangopay's end-to-end infrastructure covers all platform payment needs with total integration flexibility and workflows for every business model.

Mangopay launches "Charities" offer to enable customers to support non-profit organizations

- *Mangopay provides payment solutions enabling marketplaces and platforms to accept consumer payments, onboard sellers, and route funds to them on a global scale. It serves some of the leading European and global marketplaces (including Vinted, Chrono 24, La Redoute, LeBoncoin, Rakuten, Wallapop and Malt).*

- *In addition to the purchase price, Advent will invest €75M of primary capital to help create a global category leader and fuel growth through significant international, vertical and product expansion.*

- *Mangopay will open 250 positions in all departments and welcome new key people and advisors to support its growth.*


**Paris, April 7, 2022** – Mangopay, a major European payment solutions provider for marketplaces and platforms, has announced the arrival of a new strategic partner in its capital to support the scale-up's growth and ambitions. French banking group Crédit Mutuel Arkéa ("Arkea") will remain a minoritybshareholder in Mangopay.

Mangopay provides end-to-end payment solutions to marketplaces and platforms leveraging a differentiated e-wallet environment. Through developer-friendly APIs, marketplaces and platforms are able to accept consumer payments, onboard sellers, hold and route funds to them on a global scale. The e-wallet environment provides unique flexibility allowing for payments splits, use of escrow accounts and closed-loop payments.

Today, Mangopay serves some of the leading European and global marketplaces, as well as the most innovative and high potential scale-ups. It is one of the fastest-growing payment companies in Europe and is expected to process €13B in transaction volume and generate €30M in net revenue in 2022.
## Accelerating Mangopay's growth
This operation reflects a major step in the creation of a global category leader in the payment industry. With enhanced investment capabilities and differentiating technology, Mangopay will be well positioned to capitalize on the shift of retailers and e-commerce platforms to a marketplace model. In addition, Mangopay has already developed a set of dedicated added value services to address the needs of the rapidly growing B2B marketplace segment.

To fuel this vision, Advent will inject €75M of primary capital. This investment will contribute to accelerating the company’s growth – focusing on international, vertical and product development – with
the ambition of becoming one of the key global payment solutions powering the platform economy.
Mangopay will be recruiting over 250 positions worldwide in the coming months. Half of them will be engineering and product roles to accelerate new features development. 

Mangopay will also be expanding its operations and recruitment - sales, solution engineer and customer success manager positions - to new geographies such as the UK, the Nordic region, and Eastern Europe, as well as strengthening its presence in Germany and Southern Europe.

Mangopay is announcing the arrival of two new key people to the team who will be bringing their expertise to further accelerate business. Xavier Garambois, former Amazon VP to European Consumer Business will be joining as Chairman.

**Romain Mazeries, CEO of Mangopay**, comments: “*We are thrilled to welcome Advent as the new shareholder and growth partner for Mangopay. Their investment along with their deep payment expertise
and network will help us significantly accelerate our development. Tomorrow, global exchanges, innovative business models and new consumer habits will bring more complexity and intermediaries to the payments landscape. Mangopay is well positioned to tackle these challenges and I’m very excited about the innovation we will bring to the market and to our existing clients. We are also grateful to Arkéa, who have
been supportive shareholders since 2015.*”

**Fabio Cali, Director at Advent**, comments: “*We have identified Mangopay as one of the leading players in payments for marketplaces and platforms, which is a strategic and highly attractive end market. Over the last two years, we have been following the company and its strong developments under the ownership of Arkéa. We are excited to partner with the management team and current shareholders to further accelerate
the next leg of its growth journey towards a global category leader.*”

**ABOUT MANGOPAY** 
Mangopay empowers the platform economy with its unique and comprehensive payment infrastructure. Created in 2013, Mangopay serves 2,500 + leading platforms and marketplaces. Built around its programmable e-wallet solution, Mangopay's end-to-end infrastructure covers all platform payment needs with total integration flexibility and workflows for every business model.


**ABOUT ADVENT INTERNATIONAL**
Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in 390 private equity investments across 42 countries, and, as of September 30, 2021, had €75 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 255 private equity investment professionals across North America, Europe, Latin America, and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. For over 35 years, Advent has been dedicated to international investing and remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.
For more information, visit Advent's tech website,[ www.adventtech.com](url), global website, [www.adventinternational.com](url), or LinkedIn page, [www.linkedin.com/company/advent-international](url)

Mangopay to accelerate growth following  acquisition by Advent

*Ronen Benchetrit, former CTO for Pokerstars, Zopa and Bumble, will be joining the executive committee, as Chief Technological Officer, focusing on strengthening the firm’s tech to accelerate product innovation and scalability in the next stage of growth.*

**Paris, 14 November 2022** – Mangopay, a major European payment solutions provider for marketplaces and platforms, announced the appointment of key additions to Mangopay's executive leadership team. Ronen Benchetrit has been appointed as **Mangopay's Chief Technology Officer** and joined the executive committee following the acquisition by Advent International. As a key appointment that underlines Mangopay's strong commitment to innovation, Ronen will be responsible for taking the scale-up into the next phase of its technology challenge, leading one of the fastest-growing tech teams in the payment industry.

The appointment of Ronen Benchetrit, who will report to CEO Romain Mazeries, is another step for Mangopay in becoming the most comprehensive payment ecosystem dedicated to platform businesses. Ronen will bring three decades of experience leading high-performing tech and engineering teams to help Mangopay build a modern, resilient and scalable tech.

Ronen’s career spans across various industries, working and leading agile product engineering and cloud teams globally at scale-up companies. He joins MANGOPAY at a perfect time, during which the scale-up is planning its next phase of growth. Ronen will strategize and execute the tech evolution to support business growth, working closely with Mangopay's leadership. He plans to double the team in the next 24 months, enlisting top-tier talent in all departments.

Based in the UK, Ronen Benchetrit joins Mangopay from Bumble, a dating and networking app, where he served as CTO. Prior to that, Ronen was the CTO for a UK challenger bank and pioneering peer-to-peer lender Zopa. He also served as CTO for leading online gaming operator PokerStars, where he led the tech function from private company stage through to its initial public offering. He holds a Bachelor’s Degree in Computer Science and holds a few granted patents in the computer science field. 

“The platform economy is booming. Platforms have become an essential driver for e-commerce growth, as it brings so many benefits for both buyers and sellers. Mastering payments at scale in this field is complex yet key to all platforms. Compounded with the business growth, this creates an exciting tech journey for our tech team and I’m thrilled to join Mangopay at such a key moment in its evolution”, said **Ronen Benchetrit**, Chief Technology Officer at Mangopay. “Mangopay's potential is unrivaled and I am excited by the opportunity to build a best-in-class payment ecosystem and deliver even more value to our customers.”

Mangopay CEO, **Romain Mazeries** said: “I am excited to welcome Ronen Benchetrit. Ronen’s experience will be game changing to accelerate our growth. In the last couple months, Ronen is already driving the company’s global technology strategy by fostering a strong engineering culture as well as by providing technical leadership across all areas of the business.” 

**ABOUT MANGOPAY**
Mangopay empowers the platform economy with its unique and comprehensive payment infrastructure. Created in 2013, Mangopay serves 2,500 + leading platforms and marketplaces. Built around its programmable e-wallet solution, Mangopay's end-to-end infrastructure covers all platform payment needs with total integration flexibility and workflows for every business model.

Mangopay appoints Ronen Benchetrit as Chief Technology Officer 

- *As part of Advent International’s investment, Mangopay acquires fraud detection and prevention company Nethone to provide platforms with a holistic payments and risk management solution.*

- *This acquisition gives marketplaces advanced capabilities to detect and counter complex fraud activities allowing them to create a safer environment and increase conversion rates.*

- *Hubert Rachwalski von Rejchwald, Nethone CEO, joins Mangopay's executive committee. Nethone will remain a standalone company serving online merchants and financial institutions with sophisticated along-the-user-journey fraud prevention.* 

**Paris, 29 November, 2022** – Mangopay, the platform-specific payment infrastructure provider, is acquiring AI fraud detection and prevention company Nethone to develop and offer anti-fraud solutions designed specifically for marketplaces. Faced with surging online fraud rates, this solution will allow any type of platform to transform threats and challenges posed by malicious activity into accurate, profitable business decisions.

Marketplaces account for over two thirds of global e-commerce transactions, making them a prime target for fraudsters. As third-party intermediaries, platforms are even more vulnerable to fraud than classic digital commerce. To better detect and prevent threats in real time, and predict future patterns of increasingly sophisticated malicious activity, platforms require enhanced security features with augmented data-centric capabilities. Mangopay and Nethone are creating the first fraud prevention solution on the market built specifically for platforms and marketplaces.
## Transforming threats into accurate and profitable business decisions
Nethone’s proprietary machine-learning powered solution incorporates behavioral data collection, hardware, software, network intelligence, as well as behavioral biometrics to allow platforms to make informed decisions and secure every point of the user journey, both on mobile or desktop. With a wide range of mobile-native attributes analyzed, the solution is accurate in identifying fraudulent activity within the growing number of transactions carried out on mobile devices. Based on Nethone’s current use cases, in a single integration this solution will:

- Allow platforms to operate in a safe environment by preventing over 95% of account takeovers (ATO), reducing fake accounts, fraud rates, chargebacks and unauthorized transactions;

- Support business growth by unlocking upsell potential, increasing conversion rates by 9%, and approval rates by 26%, as well as reducing false declines due to suspected fraud;

- Help build an operationally efficient and scalable platform by reducing manually-reviewed traffic by 60% through well-explained recommendations.

Enhancing Mangopay's pay-in, payout authentication and seller onboarding capabilities with deeper Know Your User intelligence protects marketplaces from sophisticated fraud and abuse, while offering both their buyers and sellers a frictionless experience. Mangopay and Nethone’s collaboration already allows platforms to improve conversion rates thanks to the optimization of pay-in transaction scoring, better 3DS2 exemption management and ID check validation. 

**Romain Mazeries**, CEO, Mangopay, comments: “Every platform must have a deep understanding of its users in real time throughout their entire customer journey to reduce fraudulent activity. We’re delighted to welcome Nethone to the group and offer a unique set of anti-fraud capabilities on top of our existing infrastructure. This is a key step in our mission to provide marketplaces and platforms with the best solution to drive their success.”

“We are excited to have Advent International as our new majority investor and to be joining the Mangopay rocket ship,” adds **Hubert Rachwalski von Rejchwald**, CEO and co-founder, Nethone. "Going forward, on top of accelerating Nethone’s own dynamic expansion according to our standalone business plan, we will work on the tremendous potential identified among Mangopay's 2,500+ existing platform customers. Together we will take our unique Know Your User technology and further refine it to be the best-in-class platform-specific solution."

Nethone will continue to serve companies worldwide, led by its current CEO and co-founder, Hubert Rachwalski von Rejchwald, who joins Mangopay's Executive Committee. The company pursues the vision to build the best-in-class anti-fraud platform preventing online payment fraud and securing entire user journeys, from registration to use of service.


**ABOUT MANGOPAY**
Mangopay empowers the platform economy with its unique and comprehensive payment infrastructure. Created in 2013, Mangopay serves 2,500 + leading platforms and marketplaces. Built around its programmable e-wallet solution, Mangopay's end-to-end infrastructure covers all platform payment needs with total integration flexibility and workflows for every business model.
 www.mangopay.com

**ABOUT NETHONE**
Nethone is a machine learning-based fraud prevention SaaS company founded by data scientists, developers and security experts in 2016. Nethone empowers eCommerce merchants and financial institutions to holistically understand their end-users (good and bad) with award-winning Know Your User (KYU) profiling technology. Already used by BlaBlaCar, Farfetch, Booksy and Grover, to efficiently neutralize the top three fraud risks to platforms: payment fraud, account takeover and friendly fraud. 
[www.nethone.com
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Mangopay and Nethone join forces to provide platforms and marketplaces with dedicated anti-fraud solutions

*Carlos Sanchez Arruti, formerly Amazon’s Finance Director, joins Mangopay's executive committee as Chief Financial Officer to scale and streamline the finance function to support the company’s revenue growth*
**Paris, 20 December 2022** – Mangopay, the platform-specific payment infrastructure provider, announces the appointment of Carlos Sanchez Arruti as Chief Financial Officer. Joining from his prior role at Amazon as CFO of LATAM, Carlos brings a wealth of experience, where he drove financial strategy, transformational change, and operational excellence at scale. As Mangopay's reach expands across the globe, Carlos will play a crucial role in enabling this aggressive growth while operating with the highest standards in discipline and fiscal responsibility. 

His appointment reflects Mangopay's continued momentum and global expansion following the Nethone acquisition and the addition of Luke Trayfoot, new CRO, Ronen Benchetrit, new CTO and Olympe Leflambe, General Counsel this year. 

With more than 20 years of experience working for financial services, retail and platform organizations, Carlos will bring a track record of leadership in a high-scale environment and a proficiency in strategic transformation, to help Mangopay achieve strong financial results. He will be responsible for driving the financial strategy of the business, and scale the finance organization to accelerate revenue growth. He joins Mangopay's executive team - reporting directly to Mangopay's CEO, Romain Mazeries - and will oversee financial planning and analysis, pricing, accounting, treasury, business support.

Based in Luxembourg, Carlos Sanchez Arruti, 45 years old, joins Mangopay business after acting as Finance Director for Amazon Transportation Services EU and previously as CFO for Amazon LATAM where he was responsible for strategy and operational excellence. Carlos also spent two years at American Express as a Vice President of Finance, and 14 years at GE Capital in multiple roles of increasing responsibility. A native from Puebla, Mexico Carlos holds an MBA in Corporate Finance from Columbia Business School in the City of New York, and a Bachelor’s Degree in Economics from Universidad Panamericana in Mexico City.

Mangopay CEO, **Romain Mazeries** said: “2022 was a breakthrough year for Mangopay: we acquired our first ever company to add advanced anti-fraud capabilities on top of our existing infrastructure, added world-class investors, and laid the foundation for expected aggressive growth in 2023 and beyond. We have a huge opportunity in front of us and we’re building a company for the long term. Carlos has a large experience in managing complex and large PnL plans. His in-depth financial skills will be a key assets in supporting Mangopay's growth trajectory, M&A and integration roadmaps, as well as operational efficiency.”

“I’m delighted to be joining Mangopay at such an exciting time in the platform economy’s growth journey, and being part of a team continually innovating its already market-leading, customer-first ecosystem. As the business continues on its upwards trajectory, I look forward to playing a key role in maintaining its sustainable growth”, said **Carlos Sanchez Arruti**, Chief Financial Officer at Mangopay. “I’m ready to lead this large-scale business and I look forward to using my skills to help accelerate Mangopay's already steep growth trajectory.”

**ABOUT MANGOPAY**
Mangopay empowers the platform economy with its unique and comprehensive payment infrastructure. Created in 2013, Mangopay serves 2,500 + leading platforms and marketplaces. Built around its programmable e-wallet solution, Mangopay's end-to-end infrastructure covers all platform payment needs with total integration flexibility and workflows for every business model.

Mangopay appoints Carlos Sanchez Arruti as CFO in continued expansion of executive leadership team

**Paris 27 December 2022** – Mangopay, the platform-specific payment infrastructure provider, announced an HR initiative to further align the organization to the paradigm shift in the work-life balance. Recognizing the growing need to deploy or scale remote workforce policy to meet fresh work expectations, this new HR policy allows employees on permanent contracts to work remotely for up to three weeks a year, from (almost) anywhere in the world. This is a new step in Mangopay's overall ambition to become one of the best companies to work for.

Effective immediately, the "Work From Anywhere" Program allows Mangopay to adapt its organization to the post-Covid era and offer its employees a balanced framework that combines the flexibility of remote work, while keeping the office as an important anchor for social interactions and community building.

## Reimagining ways of working post-pandemic

This policy builds on Mangopay’s existing successful remote working policy - which saw 99% of employees regularly working from home prior to the pandemic, and hybrid and fully remote teams become the norm during the pandemic. Mangopay culture is based on trust, and this policy seed the company go further to encourage healthy work/life balance and flexibility, with employees now able to work fully remote for three weeks from almost everywhere. With more than 30 different nationalities across the Mangopay team, diversity is at the heart of the company’s culture, and the new policy will enable employees to spend more time with families based abroad or create brand new work experiences around the world. 

With the "Work From Anywhere" program, all Mangopay employees with more than six months of service are allowed to work abroad, for up to three weeks per year. The three-week period may be taken consecutively or over multiple trips. The country must be considered safe to travel to and employees must undertake all preliminary actions required before their departure (visa, vaccines, accommodation, etc.).

Mangopay’s innovative and inclusive workplace culture allowed the company to adapt quickly to the new pandemic reality in 2020, building on existing benefits and initiatives to help its people thrive. In 2020, Mangopay pioneered the extension of leave for the second parent, via the signing of the Parental Act. Today, the company is building on this existing commitment to its employees via the new remote working initiative, with the aim of both retaining and attracting the best talent.

“The pandemic blurred the lines between work and life like never before. Flexibility, inclusion, and wellbeing became the three main drivers for teams across every industry. If companies want to attract and keep the best talents, they need to constantly adapt their HR policy and initiatives. This is what we do at Mangopay”, explains **Élodie Meriguet**, Chief People Officer at Mangopay. “We believe the "Work From Anywhere" Program will have a positive impact on work life balance and the wellbeing of our colleagues. By adding this program to our innovative HR strategy across our organization, we believe we can provide our colleagues with a balanced framework. The key objective of this approach is to provide our employees with the best working environment possible.”

**ABOUT Mangopay**
 
Mangopay empowers the platform economy with its unique and comprehensive payment infrastructure. Created in 2013, Mangopay serves 2,500 + leading platforms and marketplaces. Built around its programmable e-wallet solution, Mangopay's end-to-end infrastructure covers all platform payment needs with total integration flexibility and workflows for every business model.
 www.mangopay.com