Factoryz selects Mangopay to power payments on its circular economy platform

Paris, September 10, 2024 - Factoryz, a circular economy platform that allows businesses and organisations to resell materials and equipment, has selected Mangopay to power its payments - starting with its sustainability efforts around the global sporting events held in Paris this summer.

The Factoryz platform enables clients to sell unused or nearly new products to other businesses and private customers, helping them comply with sustainability regulations and create revenue streams from surplus goods. Mangopay’s embedded end-to-end payments flow will provide Factoryz clients with a seamless and secure payment experience directly within the platform for the first time.

Factoryz already works with renowned companies such as Naval Group, SNCF, ID Logistics as well as multiple other large groups. Factoryz was chosen to organise the reuse of materials and equipment which will become available at the end of the global sporting events held in France this summer.

Factoryz was founded in Angers, France, in 2017 by Jean-Baptiste Guigonet, a former director of high tech projects at Thales, and Eric Launois, former director of major industrial sites in France and abroad. In 2023, Factoryz helped reduce the emission of 15,000 tonnes of CO2 and enabled the reuse of €6 million of equipment and materials.

Mangopay, a flexible and modular payment solution for platforms, already has an established footprint in supporting circular economy platforms, with clients like Vinted, Wallapop and Leboncoin. The company has processed more than €100 billion in transactions and has more than 250 million end users of its solutions. Mangopay solutions enable platforms to build personalised and automated payment journeys, thereby facilitating revenue growth, improving the customer experience and helping to prevent fraud.

Eric Launois, DG at Factoryz, said: “We are extremely proud of our association with Mangopay which, like us, has an established presence in France. Our managed processes and platforms enable large organisations to meet their sustainability goals and Mangopay's solutions enable smooth transactions within a trusted environment for all stakeholders.”

Tristan Torres-Velat, VP Global Sales at Mangopay, said: “Sustainability is an increasingly critical part of business strategy for modern organisations. Our payment solutions play a vital role in the circular economy, and this partnership with Factoryz is another example of this. With Mangopay's integrated payments infrastructure, Factoryz customers will benefit from an optimised user experience."

About Factoryz

Created in 2017, Factoryz is a start-up based in Angers, France. The co-founders, Jean-Baptiste Guigonet and Eric Launois are former executives at leading industry organisations. Factoryz makes it easier to reuse equipment and materials that companies no longer use. Nearly 6,000 professionals use Factoryz solutions. Reuse between sites of a large company and with its stakeholders is an alternative purchase to new with immediate economic and environmental benefits. In 2023, 65,000 resources were reused on Factoryz platforms, generating savings of 6 million euros and an impact of more than 15,000 tonnes of CO2. The company currently has 12 employees.

About Mangopay

Created in 2013, Mangopay empowers the platform economy with its modular payment infrastructure. Built around its programmable e-wallet solution, Mangopay’s end-to-end infrastructure covers platform payment needs, from pay-in and payout to comprehensive fraud prevention and FX, for many business models and workflows. The company has over 250 million end users of its services and has processed over €100bn in transactions since its inception. Mangopay was named among CNBC’s World’s Top Fintechs in July 2024 and its Fraud Prevention solution won a Fintech Breakthrough Award in March 2024.