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Amsterdam Payments Firm Mollie Notches $800M Led By Blackstone

Amsterdam Payments Firm Mollie Notches $800M Led By Blackstone

June 22, 2021 at 11:45AM
by PYMNTS

Amsterdam payments firm Mollie raised $800 million in a Series C funding round led by Blackstone Growth (BXG), with participation by EQT Growth, General Atlantic, HMI Capital, and Alkeon Capital. TCV, who led the Series B investment in September 2020, also participated in this round.

The fresh capital puts Mollie’s valuation at $6.5 billion, making it among the five most valuable, privately held FinTechs in Europe, and one of the top 20 worldwide, according to a press release on Tuesday (June 22) citing data from CBInsights.

Mollie CEO Shane Happach said that since joining the company three months ago, Mollie grew its user base in Germany by 600 percent and is readying for a full rollout in the U.K.

“Over the past months, Mollie has been receiving a remarkable amount of interest from some of the world’s foremost FinTech investors,” Happach said. 

He added that BXG and this new round of backers will help drive Mollie’s growth as the company strives for global expansion and works to develop new technologies and products. 

The new capital brings Mollie’s total funding to more than $940 million to date. The new funds will fuel Mollie’s international expansion and enable the firm to grow its workforce and invest in engineering and product development. Mollie is looking to expand its workforce by 300, adding to the 480 people the firm currently employs. 

Mollie is also looking to expand its product portfolio beyond payments into financial services for small and medium-sized enterprises (SMEs) and recently hired Rogier Schoute as its new chief product officer.

Paul Morrissey, who leads European investing for Blackstone Growth, called Mollie “one of Europe’s most exciting high-growth businesses,” and one that is fueling next-generation payments for digital businesses across Europe.

“This investment underlines Blackstone’s confidence in Europe as a place for high-growth companies to thrive,” Morrissey added.

Launched in 2004, Mollie is among the biggest payment service providers (PSPs) in Europe and serves more than 120,000 active merchants every month. The company processed more than €10 billion in transactions last year and will likely handle over €20 billion this year, according to the release. Deliveroo, Gymshark, Wickey and Otrium are just some of the brands working on Mollie’s platform.

Founded by Adriaan Mol, Mollie’s $100 million funding round last September gave the company unicorn status. The PSP also raised $29.5 million in 2019.