TCV heads up major Mollie Series B funding round

European payment service provider, Mollie, has closed a €90 million Series B funding round, taking the total amount raised by the company to €115 million.

The round was led by TCV. Mollie, which launched in 2004, will use the funding to accelerate international expansion and invest in product and engineering.

The venture serves nearly 100,000 merchants across Europe and expects to process over €10 billion transaction volume this year. It counts Wickey, TOMS and UNICEF as customers.

“TCV’s portfolio includes many household names, Netflix, Facebook, Spotify and Revolut, to name a few. This funding represents a huge endorsement of our business, our technology and our efforts to offer the best payment solutions that add value and help merchants unlock growth,” says Adriaan Mol, Founder, Mollie.

“Other PSPs are purely focused on price and volume. But medium sized merchants are finding they need their relationship with their PSP to be more than transactional. They need a partner to help them grow, to help them continually optimise their business – it’s an approach that TCV recognises builds significant long-term value.”

“Across Europe, Covid-19 has dramatically accelerated the shift to e-commerce. We believe that accepting online payments should be effortless for everyone, not complicated – so we provide the best payment solutions, superior customer support and honest, transparent pricing to help merchants unlock growth and drive scale,” he adds.

TCV General Partner John Doran comments: “We looks to invest in category leading technology companies that are disrupting large markets – exactly what Mollie is doing today.”

“Mollie is a customer obsessed company that delights its e-commerce merchant customers with beautifully engineered products and by putting the needs and priorities of merchants at the centre of everything they do.”