After its Series C round, the Amsterdam-origin payment service business, Mollie, has now raised a total of more than $940 million since its inception.
On 22nd June, the company reported that it had closed 800 million dollars in the financing round. With a valuation of 6.5 billion dollars, Mollie has made its place on Europe's five most profitable privately owned fintech list. It holds the most prominent and fastest-growing payment provider's rank by handling over 10 billion euros in transactions the year before. Mollie expects to double the number this year.
Alkeon Capital, HMI Capital, General Atlantic, and EQT Growth were among the investors in this round. Blackstone Growth (BXG), Blackstone's venture capital financing arm, headed the series. TVC Capital, who piloted Mollie's Series B fundraising round, was also present.
Series B took place in September of last year. The capital will aid Mollie's continuous engagement in product and engineering, workforce growth, and worldwide expansion. This will further help the company accomplish its mission to become the globe's most-loved payment services business.
CEO Shane Happach has given his statement on the firm's situation. During the last three months, Mollie has gained significant attention from some leading global fintech investors. Mr. Happach went on to say that BXG is one of such investors who can help Mollie in its next stage of development. He claimed that since his joining, the company has made 600% growth in Germany and assembled a strong team of employees and executives. Now, Mollie is preparing for a major launch in the United Kingdom.
Its payments platform, created in 2004, makes integrating payments into a website or app simple for more than 120000 monthly active traders of all sizes throughout Europe.
Mollie's exceptional customer service, efficient and accessible pricing, and outstanding products, along with no lock-in agreements, have fueled fast development. This growth occurred both during the outbreak and in the months after the government lifted lockdown restrictions across the country. Gymshark, Otrium, Wickey, and Deliveroo are among the company's customers.
Mollie already employs 480 people and expects to hire another 300 in the following months. Besides payments, the organization wants to expand its line of products to include financial services for small and medium businesses (SME).
Paul Morrissey, who manages Blackstone's European investments, commented on the transaction, saying that the funding proved Blackstone's conviction in Europe as an ideal thriving area for high-growth enterprises. He stated that he and the other supporters are thrilled to work with Mollie and its team. He plans to utilize Blackstone's resources, skills, and worldwide network to help the firm reach its next level of success.
Fintech's app usage increased by 72 percent in Europe following the pandemic. At the same time, the top 7 electronic banks in the United States increased their aggregate customer base by 39 percent for the year. Payments have been more competitive in recent years, with fintech businesses such as Adyen, Square, and Stripe all vying for a more significant part of the market. Mollie claims that, unlike its American competitors, it concentrates only on European transactions with smaller firms.
The company's overall funding was 115 million dollars, and it is anticipated that its yearly revenue will be 50.6 million dollars.