Mollie raises 90 million euros in Series B financing led by TCV
Mollie has raised 90 million euros in a Series B financing round, bringing the amount raised by the company to a total of 115 million euros. The round was led by TCV, one of the largest technology investment funds. Mollie will use the financing to accelerate international growth and invest in Product & Engineering, in order to realize their vision: to become the most popular payment service provider (PSP) in Europe.
Founded in 2004, Mollie is one of the largest PSPs in Europe and now serves nearly 100,000 companies. The company is expected to process more than ten billion euros in payment volume this year and to double this year-over-year. In Germany alone, processed volumes increased by a thousand percent in the last year. This growth is the result of Mollie’s mission to make complex financial services easier for companies. This results in a product that exudes convenience, trust and security at the checkout, is easy to use and transparently priced, has no lock-in contracts and offers the best customer service. Mollie’s customers include Wickey, TOMS® and UNICEF.
Adriaan Mol, founder of Mollie: “TCV’s portfolio includes many well-known names: Netflix, Facebook, Spotify and Revolut – just to name a few. This funding is a huge endorsement for our business, our technology and our efforts to provide the best payment solutions that add value and help businesses grow. Other payment providers focus purely on price and volume. But medium-sized companies are finding that the relationship with their PSP is about more than just transactions. They need a partner to help them grow and optimize their business – an approach also seen by TCV as one that delivers long-term value.”
“It is a difficult time for companies across Europe, but at the same time it is also an invitation to get the most out of technology,” continues Adriaan Mol. “The right growth mindset is essential for companies to be successful in the new normal. Across Europe, COVID-19 has greatly accelerated the shift to e-commerce, a process that we can enhance by making online payments as easy as possible for everyone. So we offer the best payment solutions and fair, transparent prices so that companies can grow and scale.”
John Doran, General Partner at TCV: “We are delighted to be working with Adriaan and the Mollie team. TCV invests in technology companies that are industry leaders and shake up markets, and that is exactly what Mollie is doing now. Mollie is ready for its e-commerce customers with beautiful products that make life easy and help them to grow.”
Muz Ashraf, director of TCV, adds: “We have been following Mollie for a while now and see that they have built a product that works flawlessly, is very customer-friendly and is very well suited to the local market. The proposition is very well received by companies and has made Mollie a leading payment service provider in Europe. We are very happy to work with Adriaan and the team and are looking forward to the future.”