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News

One of the largest PSPs in Europe raises €90M

Sep 08, 2020

It is serving about 100,000 merchants across the continent

Mollie

One of the largest PSPs in Europe raises €90M. Source: shutterstock.com

Mollie has announced the closing of €90 million in its Series B funding round, taking the total amount raised to €115 million.

TCV, one of the largest technology-oriented growth equity investors, led the round.

TCV’s portfolio includes many household names: Netflix, Facebook, Spotify, and Revolut, to name a few. 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. They need a partner to help them grow, to help them continually optimize their business – it’s an approach that TCV recognizes builds significant long-term value
Adriaan Mol, founder of Mollie

Mollie will use the funding to accelerate its cross-border expansion. The company will also invest in product and engineering, helping it to enhance its capabilities across Europe.

Mollie was launched in 2004 and is currently one of the largest PSPs in Europe. During the last year in Germany alone, the company’s processing volumes grew by 1000%.

We’ve reported that Ingenico Group, Nets Group, Nexi, and Worldline?have announced?the launch of an EU advocacy alliance gathering Europe’s leading independent payment services providers.

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