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September 8, 2020

Mollie closes $106m Series B funding round at over $1bn valuation

Dutch payment processing company Mollie has secured €90m ($106m) in Series B funding round to support its international expansion.

The funding round was led by Silicon Valley-based investment firm Technology Crossover Ventures (TCV).

With the latest investment, Mollie has closed its Series B funding round and achieved unicorn status by exceeding $1bn in valuation.

The latest funding round brings the total amount raised by the company to date to €115m ($135.8m).

Mollie will use the fresh capital to boost its international expansion, invest in product development as well as grow its engineering team.

Launched in 2004, Mollie is said to be one of the largest payment service providers (PSPs) in Europe.

Mollie founder Adriaan Mol said: “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.

“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.”

“We believe that accepting online payments should be effortless for everyone, not complicated – so we provide the best payment solutions, superior customer support and honest, transparent pricing to help merchants unlock growth and drive scale.”

Mollie works with nearly 100,000 merchants, including the likes of Deliveroo, Moet & Chandon, Wickey, TOMS, and UNICEF.

It offers a digital payments product, which is easy to integrate, comes with simple pricing and no lock-in contracts.

The European payment processing company expects to process €10bn in transaction volume this year – a 100% growth since last year.

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