Mollie, a leading payments provider focused on simplifying financial services for SMEs, has launched its funding solution, Mollie Capital, in the UK.
The move aims to provide small- and medium-sized enterprises (SMEs) with quick and flexible access to capital, bypassing traditional lending barriers.
SMEs in the UK often face challenges when seeking financing from traditional lenders. Lengthy application processes, extensive financial documentation requirements, and slow approval times hinder their ability to secure timely funding. Mollie Capital aims to bridge this gap by offering a streamlined alternative.
Founded in 2004, the firm is a financial services provider that offers payment processing solutions to businesses across Europe. It is known for its user-friendly platform, seamless integrations, and commitment to simplifying financial processes for SMEs.
Mollie Capital enables businesses to access funding of up to £250,000. Eligible businesses must have processed payments with Mollie for at least 90 days.
The application process takes as little as five minutes, and once approved, funds are transferred within 24 hours. Repayments are made through a percentage of daily sales, ensuring flexibility for SMEs.
Mollie first launched Capital in continental Europe in late 2022. Since then, thousands of SMEs have used it to finance inventory, marketing campaigns, and business expansion. In the Netherlands alone, Mollie Capital, in partnership with YouLend, has provided over €50m in loans to more than 5,000 SMEs.
It entered the UK market in early 2021 under the Temporary Permissions Regime for EU-based financial services firms.
In June 2023, the company secured a Payment Institution licence from the UK’s Financial Conduct Authority (FCA), enabling further expansion of its services.
Mollie UK managing director Mia Hunter said, “Mollie Capital is our first financial service to launch in the UK – the first of many designed to eliminate financial bureaucracy for SMEs. For too long, small and medium-sized UK merchants have been neglected by incumbent payment services providers, lenders, and banks. These companies don’t invest in the simplicity and flexibility SMEs need to manage their finances.
“Mollie Capital fills a critical gap in the UK market. In Europe, we have customers repeatedly using, and paying back, this new funding source to drive sustainable growth.”
