MangoPay, a European payment technology provider for marketplaces and platforms, is to hire 250 people this year in a rare reversal of the current trend for layoffs across the tech industry.
The growth trajectory follows a majority investment by Advent International last year and the addition of €75 million of primary capital to grow the business. In November, the firm acquired AI fraud detection and prevention company Nethone, whose technology is designed specifically to protect e-commerce marketplaces.
Romain Mazeries, CEO, comments: “Under Advent’s ownership, we have boosted our C-suite expertise and made our first acquisition, which has put us on a path for great success. As we look forward to 2023, I’m most excited about our overall ability to empower platforms to build and scale the payment system that they need with the technology expertly curated to beat the ever-changing marketplace landscape.”