THE CHALLENGE
A leading fintech with a complex cash landscape
Mangopay powers many of Europe’s largest platforms with a wallet-based payment infrastructure that has served more than 250 million end users and processed over €100 billion in transactions. With such scale, treasury sits at the centre of the business.
Travolta Mohan joined as Group Treasurer at a time when cash operations had become increasingly intricate. Mangopay held hundreds of accounts across multiple banking partners. Each account had its own portal, user access, and reconciliation flow. Even understanding the daily cash position required patience and manual effort.
“Before Atlar, the team had to log into multiple portals, check balances manually, and download statements,” Travolta explains. “All of this would take hours at a time.”
The treasury team also needed stronger governance. As a regulated payments institution, Mangopay had to demonstrate full clarity on who could access each account and who could approve payments. Establishing these controls was one of Travolta’s first priorities.
At the same time, the company was implementing SAP S/4HANA. This created an opportunity for a more connected treasury foundation, but it also raised the question of whether Mangopay should build its own system or select a modern TMS.
“It was clear that building something in-house would be a very big undertaking,” Travolta says. “We needed to select the right partner instead.”
THE SOLUTION
Choosing Atlar for visibility, governance, and fast implementation
Mangopay evaluated several treasury management systems, including established incumbents, and also considered building something in-house. Atlar stood out for its strength in governance, real-time visibility, and deep bank connectivity.
“We needed a TMS that was very strong on account security and payment controls,” Travolta explains. “Given the number of banking partners and accounts we have, this was essential.”
Another deciding factor was Atlar’s ability to connect directly to all of Mangopay’s current banks, as well as those the company expects to work with in the future. This ensured a modern setup that could keep pace with the company’s expansion. Atlar now covers all 31 of Mangopay’s operational markets, with every entity and account centralized in one place.
Seamless integration with SAP S/4HANA also mattered. Atlar provided a single, reliable view of cash across treasury and accounting. “Both systems now share the same underlying cash data,” Travolta says. “That is incredibly important for us.”
The implementation process exceeded expectations. Weekly check-ins, clear project ownership, and direct access to the Atlar team created a smooth rollout. “The professionalism of the implementation team was a pleasant surprise. It gave us confidence from the start,” Travolta says.
THE RESULT
€20M unlocked, immediate ROI, and a treasury team with time to think ahead
The impact of moving to Atlar has been significant. With real-time cash ladders and accurate daily positions, Mangopay has been able to unlock and redeploy €20 million in idle cash. This improvement in cash deployment has been a major driver behind the company’s 6.1× ROI.
“This allows us to fund as we need and optimise returns on cash that previously sat idle,” Travolta says.
Automation has also saved the team more than 1,000 hours per year. Statement downloads, reconciliation work, and access management that once required hours now take only a few clicks. “Tasks that used to take hours can now be done instantly,” Travolta explains.
Governance has strengthened significantly. Atlar’s role profiles and approval structures give the treasury team full visibility of access rights and compliance with the delegation of authority. Travolta calls this “completely game-changing for our bank governance policy.”
Just as importantly, the team’s focus has shifted. With reliable data and automated workflows, treasury can now support the business in a more strategic way. “In the past we were very operational and focused on the day-to-day,” Travolta says. “Now we can think ahead about prefunding, yield optimisation, and group reporting.”
Atlar has given Mangopay a treasury foundation that matches the scale of its business: secure, efficient, forward-looking, and ready to support the next phase of international growth.
Discover how high-growth finance teams gain control and save time with Atlar. Reach out or request a demo.
