Dutch PSP Mollie Nets $100 Million for Expansion

Dutch PSP Mollie Nets $100 Million for Expansion

September 10, 2020

Dutch payment service provider (PSP) Mollie has raised $103 million to expand its reach in Europe.

The company announced the closing of $100 million in its Series B funding round. The round was led by growth equity investor TCV, which is focused on technology. 

Mollie officials said it will use the funding to accelerate international expansion and invest in product and engineering. 

“It’s a challenging time for merchants across Europe, but it’s exciting to see so many of our customers tackle these challenges head-on. This ‘growth mindset’ is essential to the ongoing success of all companies in the new normal”

Mollie is one of the largest PSPs in Europe, serving nearly 100,000 merchants across the continent, and expects to process over €10 billion ($11.8 billion) in transaction volume this year. Mollie counts Wickey, TOMS and UNICEF as customers.

“It’s a challenging time for merchants across Europe, but it’s exciting to see so many of our customers tackle these challenges head-on. This ‘growth mindset’ is essential to the ongoing success of all companies in the new normal,” said Adriaan Mol, founder of Mollie. “Across Europe, Covid-19 has dramatically accelerated the shift to e-commerce.”

The company competes with payment companies including Stripe, PayPal and Dutch payment company Adyen. 

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