Amsterdam-based payment service provider, Mollie has secured $800M (approx €672M) in a Series C funding led by Blackstone Growth (BXG), Blackstone’s growth equity investing business.
Other investors including, EQT Growth, General Atlantic, HMI Capital, TCV, and Alkeon Capital, also participated. It’s worth mentioning that TCV led Mollie’s Series B round in September last year. To date, the Dutch fintech unicorn has raised $940M (approx €780M) funding.
The round values the company at $6.5B (approx €5.4B), making it one of the top five most valuable privately-held fintechs in Europe and one of the top 20 in the world.
Mollie will use the funding to fuel international expansion, scaling up the team, and develop product and engineering. At present, the company employs around 480 people and plans to hire 300 new team members in the next six to nine months.
The company also plans to continue investing in its technology platform and expanding its product portfolio beyond payments into financial services for SMEs, following the arrival of the new Chief Product Officer, Rogier Schoute.
Simplifying payment methods
Founded by Adrian Mol in 2004, Mollie is a payments platform that offers an easy-to-implement process for integrating payments into a site or app.
With a simple and clear payments-API, Mollie offers multiple payment methods uniformly. The company is on a mission to make online payment simple for merchants by taking away the complexity from payment methods and offering a simple, but powerful API.
Set for 2021’s challenge
At present, the company serves more than 120,000 monthly active merchants of all sizes across the continent. Last year, the fintech company processed more than €10B in the transaction and is ready to handle more than €20B in 2021.
Mollie is serving merchants of all sizes, including Deliveroo, Gymshark, Wickey, and Otrium. As of now, the company is operational in the Netherlands, Belgium, Germany, and France.
Expanded to the UK market
Earlier this year, the Dutch fintech company expanded to the UK market to help merchants expand their businesses in Europe.
The company is collaborating with Klarna, Magento, and EU gateways to increase cross-border sales.
The company has also launched a weekly newsletter for UK merchants selling cross-border, which includes crucial information on key developments, best practice, case studies, and useful resources on Brexit and international expansion.
Josh Guthrie will head the fintech company’s UK operations.
Back in March, Mollie appointed Shane Happach as a new CEO, who has 15 years of experience in the payment industry. Before Mollie, Happach worked for Worldpay, where he was an EVP and Head of Global eCommerce.
“There’s something very special about Mollie. In the three months since I joined the team, we’ve achieved so much: making preparations for a full launch in the UK, driving 600 per cent growth in Germany, and hiring an impressive set of team members and executives,” said Shane Happach, CEO, Mollie. “Over the past months, Mollie has been receiving a remarkable amount of interest from some of the world’s foremost fintech investors. In bringing on BXG, we believe we have an investor who can help Mollie in our next phase of growth. The involvement of our new group of investors demonstrates confidence in Mollie’s growth, strategy, and product set.”