European PSP Mollie closes €90 mn in Series B funding round
By Megha Bhattacharya
European PSP Mollie today announced the closing of €90 million in its Series B funding round, thus bringing the total amount raised to €115 million. The funding round was led by growth equity fund investor TCV. Mollie stated that it would use the funding to speed up international expansion and facilitate investment in product and engineering.
“This funding represents a huge endorsement of our business, our technology and our efforts to offer the best payment solutions that add value and help merchants unlock growth,” said Adriaan Mol, founder of Mollie. “Other PSPs are purely focused on price and volume. But medium-sized merchants are finding they need their relationship with their PSP to be more than transactional. They need a partner to help them grow, to help them continually optimise their business – it’s an approach that TCV recognises builds significant long-term value.”
Mollie, launched in 2004, is a European PSP that serves around 100,000 merchants across the continent. The company aims to offers products with better design and integration, simple and transparent pricing, no lock-in contracts, and customer service.
“We are delighted to partner with Adriaan and the Mollie team,” said TCV General Partner John Doran. “TCV looks to invest in category-leading technology companies that are disrupting large markets – exactly what Mollie is doing today. Mollie is a customer-obsessed company that delights its e-commerce merchant customers with beautifully engineered products and by putting the needs and priorities of merchants at the centre of everything they do.”
Muz Ashraf, Principal at TCV, added, “We have been tracking Mollie for some time now, and believe it has built a product that is frictionless, highly developer-friendly and very localised. The proposition has resonated strongly with merchants and has catapulted Mollie to becoming a leading e-commerce payments provider in Europe. We are delighted to partner with Adriaan and the team and are excited for the journey ahead.”
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