Dutch payment service provider Mollie raises $800m

Amsterdam-based payment service provider (PSP) Mollie has raised $800 million in a Series C funding round.

This brings Mollie’s total funding raised to date to $940 million.

The round was led by funds managed by Blackstone’s growth equity investing business Blackstone Growth.

EQT Growth, General Atlantic, HMI Capital, and Alkeon Capital also joined the round, alongside growth equity firm TCV who led Mollie’s Series B funding round in September 2020.

Mollie said it will use the funding to fuel its international expansion, scale its team, and invest in product development and engineering.

Launched in 2004, Mollie said it is one of the largest PSPs in Europe, serving more than 120,000 active merchants monthly across mainland Europe.

In 2020, Mollie said it processed more than €10 billion in transactions and is on track to handle more than €20 billion during 2021.

Mollie counts Deliveroo, Gymshark, Wickey, and Otrium as customers and is currently evaluating additional countries for expansion both within and outside Europe.

The Dutch PSP is also planning a hiring push; Mollie currently has around 480 employees and said it plans to hire 300 new team members in the next six-to-nine months.

In addition, Mollie said it plans to continue investing in its technology platform and expand its product portfolio beyond payments into financial services for SMEs, following the hire of its new chief product officer, Rogier Schoute.

“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, chief executive at Mollie. “Over the past months, Mollie has been receiving a remarkable amount of interest from some of the world’s foremost FinTech investors.

He added: “In bringing on Blackstone Growth, 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.”

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