Mangopay to accelerate growth following acquisition by Advent

• 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, global website, www.adventinternational.com, or LinkedIn page, www.linkedin.com/company/advent-international