“Can a wallet-based EMI infrastructure layer become the default embedded finance OS for European and global multi-party platforms and marketplaces?”
Founded in 2013 as a wallet-based payment infrastructure for European marketplaces and crowdfunding platforms, Mangopay grew rapidly by providing a single API covering pay-ins, e-wallets, and payouts. The company expanded its FX capabilities early via Currencycloud to serve non-Eurozone clients, and over time broadened from marketplace payments into a full embedded finance stack for platforms — adding KYC/KYB identity verification, fraud prevention (via the Nethone acquisition), virtual IBANs, and multi-currency treasury management. By 2025, Mangopay had positioned itself as the white-label financial infrastructure layer for any multi-party platform, competing with Stripe Connect and Adyen for Platforms specifically in Europe.
MANGOPAY discloses Mangopay S.A. (in-house) as its banking provider, according to the Embedded Finance Index 2026.
MANGOPAY does not disclose a bank charter of its own; its banking services are provided through Mangopay S.A. (in-house).
MANGOPAY processes payments through Mangopay Pay-in (self-operated), Klarna, SEPA Direct Debit (self-operated) and Bacs Direct Debit (self-operated). Disclosed money-movement rails: SEPA.
MANGOPAY runs its ledger on Mangopay (self-operated).
MANGOPAY uses Currencycloud for FX and cross-border payouts.
The Embedded Finance Index 2026 maps 6 layers in MANGOPAY's stack: Payments / PSP (Mangopay Pay-in (self-operated), Klarna, SEPA Direct Debit (self-operated) and Bacs Direct Debit (self-operated)); Money movement (SEPA); Banking / BaaS (Mangopay S.A. (in-house)); Ledger (Mangopay (self-operated)); Unified APIs (Currencycloud); FX & payouts (Currencycloud).
MANGOPAY is founded in 2013 and headquartered in Luxembourg.
MANGOPAY has raised $93.1M in total (latest round: Merger / Acquisition, 2023).
MANGOPAY's acquisitions include Nethone (2022).
Get a read on where your own stack stands against MANGOPAY and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.