FintechM&A / FundingPayments

Payment integration company Mollie raises $800 million round

Mollie, an Amsterdam-based company, which uses APIs to integrate payments into business services, announced an $800 million all-equity funding round Tuesday, according to a company release.

The company says it plans to use the funding for international expansion, team scaling, and product and engineering development.

The round was led by Blackstone’s growth capital investing segment, Blackstone Growth (BXG), and included participation from EQT Growth, General Atlantic, HMI Capital and Alkeon Capital. TCV, the previous-lead investor for Mollie’s Series B funding round in late 2020, also participated in the round which now values Mollie at $6.5 billion USD (€5.4 billion).

“In bringing on BXG, we believe we have an investor who can help Mollie in our next phase of growth. The involvement of our new group of investors demonstrates confidence in Mollie’s growth, strategy and product set,” said Mollie CEO Shane Happach in the release.

Founded in 2004, Mollie has grown to be one of the largest payment service providers (PSPs) in Europe, with over 120,000 monthly active merchants (including names like Deliveroo, Unicef, Acer and Guess). The company processed more than €10 billion in transactions in 2020 and is on track to double that in 2021.

The $6.5 billion valuation already places Mollie as a top five most valuable privately-held fintech in Europe, and further growth looks imminent with the company planning to expand to new countries in Europe and abroad. The PSP currently has 480 employees and plans to use the investment to hire another 300 in the next six-to-nine months.

“There’s something very special about Mollie. 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,” said Happach.

Mollie intends to expand into new service areas using the funds, with Happach telling TechCrunch the company wants to target working capital for small businesses, card issuing and corporate card programs, expense management and business banking segments.

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