Pensopay A/S Due Diligence
Run due diligence on Pensopay A/S: check compliance and get alerts when suppliers or ownership change.
Denmark · owned by Visma Group (Norway) · pensopay.com · 6 vendors
Pensopay A/S is a Danish payment solutions provider offering online payment gateways for webshops, combining acquiring agreements for Visa and Mastercard with support for Apple Pay, MobilePay, Dankort, and other payment methods. The company provides easy integrations with over 50 e-commerce platforms such as Shopify, WooCommerce, and Magento. Pensopay is part of the Visma Group and is headquartered in Vejle, Denmark.
Resilience scores
- Digital Sovereignty: 0
- Digital Resilience: 6
- Financial Resilience: 8
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Services catalogue
1 service in catalogue across 1 category; runs on 6 sub-vendors.
- Payment gateway
Insights
Last updated 2026-09-13
6 direct vendors, 133 subvendors
Direct vendors by controlling owner country (sample)
- United States: 6
Subvendors by controlling owner country (sample)
- United States: 94
- Czech Republic: 1
- Japan: 3
Financials
Three-year financials
- 2025: gross profit DKK 22.9M, EBIT DKK 9.97M, equity DKK 25.1M
- 2024: gross profit DKK 22.0M, EBIT DKK 9.52M, equity DKK 17.3M
- 2023: gross profit DKK 16.5M, EBIT DKK 5.60M, equity DKK 9.82M
Financial Resilience Score: 8/10
Pensopay demonstrates strong financial resilience despite its small scale. The company has posted consistent profitability with net profit growing from DKK 3.37M in 2022 to DKK 7.82M in 2025 (roughly 2.3x in three years), and EBIT has grown every year. Equity has quadrupled from DKK 5.5M in 2022 to DKK 25.1M in 2025, indicating retained earnings financing rather than reliance on debt or new equity raises. The EBIT margin on gross profit was approximately 43% in FY2025, in line with a scaled SaaS/payments profile. The company benefits significantly from being part of the Visma group (66.67%+ ownership since November 2022), which provides technology, cross-selling opportunities (notably with Visma e-conomic), and financial backstop. The business model of recurring payment gateway and acquiring fees creates sticky, high-margin revenue with integration switching costs (compatibility with 50+ shopping systems). However, growth deceleration in 2025 (gross profit +4% vs. +33% in 2024), heavy concentration in the Danish webshop market, and lack of revenue disclosure are notable concerns that prevent a higher score.
Key strengths: Consistent profitability with no drawdown year from 2022-2025, Equity grew 4.6x from DKK 5.5M (2022) to DKK 25.1M (2025) via retained earnings, Strategic parent Visma owns 66.67%+ providing financial backstop and cross-selling, High-margin recurring-fee payment business with ~43% EBIT margin on gross profit, Sticky product ecosystem with 50+ shopping system integrations, No visible external debt in equity trajectory
Risk factors: Small absolute scale (~DKK 23M gross profit, ~30 employees) vs. giants like Stripe, Adyen, Nets/Nexi, Sharp growth deceleration in 2025 (gross profit +4% vs. +33% in 2024), Heavy concentration in Danish e-commerce/webshop segment, Regulatory exposure to Finanstilsynet (AML, PSD2/PSD3, PCI-DSS compliance), Dependence on third-party acquirers and rails (Nets, MobilePay, Klarna, Apple Pay), No published revenue - limited transparency for external stakeholders
Workforce by country
- Denmark: 30
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