Mangopay has acquired Dublin-based WhenThen, which helps organisations build marketplaces with payment orchestration using its no-code editor. Combined with the Mangopay payment infrastructure, it provides an automated payment solution for customers. The recent acquisition of Nethone, the fraud detection company, will also enable it to protect organisations during the payment process.
Adding pieces to the Payments picture
Mangopay is building a composable ecosystem of technologies that will allow organisations to build scalable and future-proof payment operations for online businesses worldwide. The combination of the solutions provides the ability to:
- Seamlessly build and configure revenue-optimizing payment flows such as intelligent payment and smart routing on all payment methods through a no-code interface.
- 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 conversion rates through a dynamic checkout experience that automatically adapts to customers’ locale.
- Grow their payment offering by adding new payment methods at checkout in a matter of clicks.
- Securely store and access customer card data via a native cloud PCI DSS Level 1 certified card vault that not only tokenizes 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 payment operations through a central Payment Insights and Operations dashboard to speed up and simplify disputes, chargeback and refund management.
Romain Mazeries, CEO of Mangopay, commented: “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 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 Vinted, LeBonCoin, Chrono24, Wallapop and many others, with enhanced features, and modular technologies that best meet their needs”.
WhenThen to disappear?
WhenThen was founded in late 2020 by Kirk Donohoe (CEO), Eamon Doyle (CTO), and Dave Brown (CAO), three veterans of the payments industry who worked together at MasterCard for several years before connecting and leading Solvers, an experience design agency? The acquisition provides a quick exit for Cavalry Ventures and Stride.VC who combined in a pre-seed round in July 2021, raising €6 million
Donohoe joins Mangopay as its Chief Product Officer, and it appears he will remain Chairman of Solvers. Donohoe commented, “We are extremely excited to embark on Mangopay’s journey and become the next global payment leader for platforms. 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.”
The press release indicates the integration work is complete, with employees and teams merging with Mangopay. It means that the WhenThen brand will disappear as they operate under the larger Mangopay brand, unlike Nethone. Neither party disclosed the terms of the deal.
Enterprise Times: What does this mean
Not only has Mangopay added an important element to its platform. It has also added another payments veteran to its leadership team. Other recent hires included 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.
Mangopay is certainly becoming a force to reckon with, and it will be interesting to see how Donhoe steers the product strategy in the coming months alongside Benchetrit. WhenThen was a rapidly rising startup with innovative technology. However, it was only ever part of the payments puzzle. Mangopay now has an even more complete pitcher allowing customers to onboard solutions faster.