Amsterdam-based fintech startup Mollie raises €25M in the first-ever funding round, plans international expansion

Dutch online payment service startup Mollie has raised €25 million from a group of technology and payment entrepreneurs.

Based in Amsterdam, Mollie launched over a decade ago to offer affordable, simple and reliable online payments for companies of all sizes and now serves over 65,000 businesses in Europe through its internally developed, cloud-based platform. The company processes over €5bn payment volume annually and is growing rapidly.

Mollie: Aims to simplify the processes of banking

From overdraft fees to payment processing, banking products were — and still are — confusing, stressful and boring. The banking industry does not provide small and medium-sized businesses the simplicity and service they deserve. The fintech startup Mollie was founded to challenge the status quo by simplifying complex financial technology and providing SMB users a competitive edge with its enterprise-grade payments platform.

Founder Adriaan Mol has profitably bootstrapped the business to date, proving the power of the payment platform — but believes the time is right to accelerate its expansion given the lack of competitive scalable options in the European market. “With over 65,000 merchants, we’re only just getting started with our mission to empower merchants to sell and grow more efficiently with solid and easy-to-use financial services. We are incredibly excited to announce that we have brought industry investors on board that share our values and long-term vision. This investment will enable us to continue our track-record of creating innovative financial products for SMB entrepreneurs.”

New investments and expansion plans

The investment will be used to accelerate growth and expansion of the company’s team and operations, and to scale the research and development teams working on next-generation — more complex to build — financial solutions.

Stay tuned to Silicon Canals for more updates in the tech startup world.

Also read,

https://siliconcanals.com/news/cisco-to-acquire-french-iot-scaleup-sentryo-heres-all-you-need-to-know-about-the-merger/