Payment solution Mangopay expands to the UK
Mangopay, a payment solution for marketplaces and crowdfunding platforms, has expanded its service to the UK. It has opened offices at a technology accelerator space in London. Mangopay has chosen Barclays as the sole provider of its UK banking services.
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Just as Mangopay has signed some key players within the marketplace and crowdfunding market, the payment solution has opened offices in the UK. At Level 39 in London to be more precise. Cassie Craddock is appointed as sales executive in the UK and will be the main point for contact for incoming sales leads.
“Mangopay is a key provider of payment solutions for the growing European digital marketplace and crowdfunding sector”, says Phil Bowkley, Head of Funds & FinTech at Barclays. “We are pleased to support them at this exciting time in their journey, as they expand their presence in the UK and offer their clients a high quality, secure and responsive service.”
Céline Lazorthes, who is the founder and CEO of Mangopay, states having an office in London (“the financial capital of Europe”) is a very exciting step for the company. Across Europe, the company processed about 135 million euros in 2014 and new clients are on their way. “I’m excited for what this year is set to bring and the opening of our London office is a great way to start 2015.”
Mangopay has a pan-European Union e-money issuer license (EME) and helps companies to accept third-party payments, create and manage (white label) e-wallets, split funds and collect feeds in a simple and secure way. Pricing is calculated based on incoming payments only and decreases as monthly sale volume increases. Mangopay’s basic rate is 1.8%+€0.18 for the euro and 2.5%+€0.25 for other currencies.
As an introductory offer to the market, MANGOPAY will be removing all fees for cash in transactions for the first £20,000 collected.
Mangopay was founded in 2012 and is part of the Leetchi Group, which also runs online group payment solution Leetchi.com. The Mangopay API was launched in May 2013 and more than 350 European clients use this to manage their payments. Some of the clients are Vinted, Vestiaire Collective, Ulule, Crowdrooster, Crowd2fund, BankToTheFuture and Farmdrop.