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Vestas & Mangopay partner to boost payments on renewables marketplace

By Gloria Methri

July 04, 2023

  • B2B Marketplace
  • B2B Payments
  • Covento
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Mangopay, Vestas, Europe, Digital Trade Credit, B2B Payments, B2B marketplaces, Payment Infrastructure Provider, FinTechVestas has expanded its partnership with Mangopay to manage the payment flows of Covento, its B2B marketplace dedicated to parts for the renewable energy sector.

Building on their collaboration since 2021, this enhanced partnership will see Mangopay manage all payment flows streamlining the procurement process for renewable products and delivering a seamless payment experience similar to B2C e-commerce sites.

Covento,  initially launched in France, Denmark, Germany, Spain, and the Netherlands, offers a comprehensive range of 40,000 renewable spare parts. It provides an end-to-end solution for supplier consolidation and streamlining the costly procurement process.

Covento’s main challenge lies in offering a comprehensive experience that allows easy reconciliation, refunds, and dispute management. By leveraging the e-wallet technology, Covento can route payments, optimize seller payments based on specific business rules and reconciliation processes. Additionally, Mangopay’s pay-in solution ensures secure checkouts to users.

Casper Algren, Chief Commercial Officer, Covento, said, “Covento is on a mission to become the leading B2B marketplace for the renewable industry, facilitating global e-commerce for both buyers and sellers. The payment experience plays a crucial role in achieving this ambition, and we are thrilled to collaborate with Mangopay to unlock new payment capabilities for our marketplace ecosystem.”

Romain Mazeries, CEO at Mangopay, added, “Covento serves as an excellent example of a thriving platform in the rapidly growing renewable market. B2B payments sit at the heart of the B2B marketplace and play a pivotal role in facilitating seamless coordination and execution of complex transactions in just a few clicks for both buyers and sellers. We are proud to support Covento on their journey to become an industry leader renewable energy parts and services and underpin a vital component of their business model.”

The extended partnership between Vestas and Mangopay reinforces Covento’s position as a major marketplace for renewable energy parts and services.

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