The Danish fintech company Flatpay has raised investments for about $16 million as part of a Series A financing round.

The firm intends to use these investment funds to expand its presence in Denmark, Finland, and Germany. The company will also spend part of the money on improving its products.

Flatpay offers the technology of POS terminals with a fixed rate for business. This offer allows you to make payments transparent and accessible to sellers throughout Europe.

Flatpay CEO Sander Janca-Jensen says that the new financing is evidence of investor confidence in the company and support for its mission. He also stated that those who provided the firm with money believed in its ability to achieve success even in difficult financial conditions.

The funding round included contributions from both previous and new investors.

Flatpay set a goal in the form of a revolution in the payment industry. The company intends to achieve this planned result by offering fixed-rate POS technology.

The CEO of the firm expects that Flatpay will become a major player in the European financial services market with a client base of more than 100 thousand people over the next three to five years. He is also convinced that in the foreseeable future, the company’s value may reach $1 billion.

The Flatpay funding round followed several partnerships and the launch of new products in the field of POS technologies. In May, Shift4 and OpenTable announced the beginning of a partnership to provide new solutions for restaurant operators. Snack booking data using OpenTable restaurant technology can be combined with expense data obtained using Shift4’s SkyTab POS system. As a result, restaurants get a holistic view of their business.

Also in May, Paytronix launched a solution to attract guests for restaurants and mini-markets on the Square App Marketplace. In this case, sellers who use any Square POS platform can add Paytronix online orders and a loyalty program directly from the marketplace.

Current trends in the sphere of interaction between companies indicate that brands need maximum control over their business, which is based on information about all aspects of their activities and all performance indicators. Effective management is impossible without full-fledged data. In addition, the partnership in the current conditions can be characterized as a tool for increasing the technological capabilities of firms, without which it is almost impossible to achieve success in an era of the active digitalization of the space of human life.

As we have reported earlier, Leap Raises $15 Million to Enhance Retail Platform.