Vestas has expanded its partnership with payment infrastructure provider Mangopay, to manage the payment flows of Covento, its B2B marketplace for the renewable energy sector. The two firms have been working together since 2021.
The “enhanced partnership” is expected to see Mangopay manage all payment flows for renewable products and delivering a seamless payment experience similar to B2C e-commerce sites.
The two companies expect to see significant growth in the renewable energy market which is currently valued at $1.1 trillion.
Covento was initially launched in France, Denmark, Germany, Spain, and the Netherlands. Covento aims to simplify the fragmented renewable aftermarket.
The company says that Covento’s main challenge is in offering a comprehensive experience that allows easy reconciliation, refunds, and dispute management. Mangopay’s services are expected to improve on all of these areas.
Casper Algren, Chief Commercial Officer, Covento, says they are on a mission to become the leading B2B marketplace for the renewable industry, adding that the payment experience plays a crucial role in achieving this ambition.
The extended partnership between Vestas and Mangopay is described as a significant milestone in the evolution of Covento, reinforcing its position as a major marketplace for renewable energy parts and services.
