FinTech Mollie boosts support for UK merchants post-Brexit

By Megha Bhattacharya

European payment service provider Mollie has announced the expansion of support for UK merchants aiming to grow into Europe. The development will provide UK merchants with the ability to explore new markets, along with the provision of a choice of preferred payment methods for EU customers. Through Mollie’s partnerships with Klarna, Magento and EU gateways, UK merchants can trade competitively in the eurozone.

According to Mollie, the new UK operations will be overseen by the company’s newly appointed UK Head – Josh Guthrie. He will be responsible for running the company’s local office and lead the company’s effort to help the UK businesses navigate international expansion post-Brexit.

“Overnight, the Brexit deal has made doing business with the EU so difficult for UK companies. Challenges include tariffs and unexpected delivery fees that make goods more expensive, and country of origin rules that have impacted logistics and shipping. Establishing a presence quickly and efficiently is vital for reaching a wider addressable market, at a time when UK retail needs it most,” said Josh Guthrie. “With our long-standing heritage in Europe and our focus on creating localised payment experiences, Mollie is uniquely placed to help customers navigate this shift and continue to grow internationally.”

Recently, European PSP Mollie 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.