Entrepreneurship

Mollie raises €665 million at a valuation of €5.4 billion

Read more at www.finextra.com


Mollie, one of the fastest-growing payment service providers in Europe, has sealed a €665 million Series C funding round at a valuation of €5.4 billion.

The round was led by funds managed by Blackstone Growth (BXG), Blackstone’s growth equity investing business, and included EQT Growth, General Atlantic, HMI Capital and Alkeon Capital. TCV who led a €90 million Series B investment in September 2020 also participated in the funding round.

The funding takes the total amount raised by the Dutch-headquartered company to €780 million

Launched in 2004, Mollie serves more than 120,000 monthly active merchants of all sizes across the continent. In 2020, the firm 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.

Shane Happach, the former Worldpay executive who was appointed as CEO of Mollie in March, says: “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% growth in Germany and hiring an impressive set of team members and executives.”

Today, Mollie has around 480 employees and plans to hire 300 new team members in the next six-to-nine months, says Happach. He says that the firm is evaluating additional countries for expansion both within Europe and beyond and intends to expand its product set beyond payment processing to provide additional financial services for SMEs.

Read more at www.finextra.com

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