Mollie secures €665 mn in Series C funding at €5.4 bn valuation
By Pavithra R
Mollie, the fastest-growing payment service providers in Europe, has announced closing of US$800m (665 mn Euro) in a Series C funding round led by funds managed by Blackstone Growth (BXG), Blackstone’s growth equity investing business. The round values Mollie at US$6.5bn (5.4 bn Euro).
The investment brings the total amount raised by the company to over US$940m (780 mn Euro). The finance round also saw participation from EQT Growth, General Atlantic, HMI Capital and Alkeon Capital. TCV who led the Series B investment in September 2020.
“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% growth in Germany and hiring an impressive set of team members and executives. 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,” said Shane Happach, CEO, Mollie.
Mollie is planning to use the funding to fuel its international expansion, team scaling and continued investment in product and engineering, helping the firm to realize its vision of becoming the most-loved payment service provider (PSP) in the world.
Launched in 2004, Mollie is one of the largest PSPs in Europe. According to the company data, it serves more than 120,000 monthly active merchants of all sizes across the continent. The firm in 2020 processed more than 10 bn Euros in transactions and is on track to handle more than 20 bn Euros during 2021. During the pandemic and the months following the relaxation of lockdown restrictions across Europe, the firm’s leading products, simple and transparent pricing and excellent customer service, alongside its no lock-in contracts have resulted in its rapid growth. The FinTech counts Deliveroo, Gymshark, Wickey and Otrium as customers.
“Mollie is one of Europe’s most exciting high-growth businesses and is at the forefront of enabling next-generation payments for online SMEs across Europe. We are excited to partner with Mollie’s fantastic team and look forward to leveraging Blackstone’s capital, expertise and global network to unlock the company’s next phase of growth. This investment underlines Blackstone’s confidence in Europe as a place for high-growth companies to thrive,” said Paul Morrissey, who leads European investing for Blackstone Growth.
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