SlimPay, a France-based payment service provider, is planning to expand its presence in Europe by opening two offices in Berlin and Amsterdam.
Additionally, the company has also hired Edouard de La Jonquière, cofounder and former CEO of Mention.com as new VP for marketing.
Currently, SlimPay aims to focus on a SEPA Direct Debit (SDD), entry-point product for recurring payments.
SlimPay, which had processed EUR2.4bn in 28 countries last year, provides recurring payments for significant players in different verticals.
The company is planning to double the team and the revenue by the end of 2015. It will allow companies and organizations set up innovative subscriptions offers to customers and collect recurring payments more efficiently.
SlimPay cofounder and CEO Jerome Traisnel said: "Subscription is not only a form of billing cycle nor only a business model: subscription is a mode of consumption changing global commerce. We estimate the market at EUR2, 500 billion in the 5 major European countries.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
"It’s now time for us to scale up and expand throughout the SEPA zone. The opening of our Amsterdam and Berlin offices will allow us to tackle the Benelux and Germany/Austria markets in which direct debit is a well- known payment method but needs to be rejuvenated.
"The recruitment of Edouard shows that we are investing to expand our customer base downmarket, which is a key element of the SlimPay path for growth," Traisnel told Finextra.