FinTech Mollie has closed a €90m Series B funding round, taking the total amount raised by the company to €115m.
Technology-focused growth equity investor TCV led the round into the payment service provider.
“TCV’s portfolio includes many household names: Netflix, Facebook, Spotify and Revolut, to name a few,†said Adriaan Mol (pictured), founder of Mollie. “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.”
Mollie’s founder is also adamant that the company will be able to continue to stand out among the competition.
“Other PSPs are purely focused on price and volume,” said Mol. “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 optimise their business – it’s an approach that TCV recognises builds significant long-term value.â€
Mollie will leverage the new cash injection to strengthen its international expansion and invest in product and engineering.
Launched in 2004, Mollie has since become a PSP that serves nearly 100,000 merchants across Europe. The venture is projecting that it will process more than 10 billion euro transaction volume in 2020.
“We are delighted to partner with Adriaan and the Mollie team,†said John Doran, general partner at TCV. “TCV looks to invest in category leading technology companies that are disrupting large markets – exactly what Mollie is doing today. Mollie is a customer obsessed company that delights its e-commerce merchant customers with beautifully engineered products and by putting the needs and priorities of merchants at the centre of everything they do.â€
Muz Ashraf, principal at TCV, added, “We have been tracking Mollie for some time now, and believe it has built a product that is frictionless, highly developer-friendly and very localised. The proposition has resonated strongly with merchants and has catapulted Mollie to becoming a leading e-commerce payments provider in Europe. We are delighted to partner with Adriaan and the team and are excited for the journey ahead.â€
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