Dutch payment processing firm Mollie scoops €90m Series B

European payment processing firm Mollie has closed a €90m Series B funding round led by TCV, which has invested in the likes of Spotify, Revolut, Netflix, and South American digital bank Nubank.

The round takes the total raised by the fintech to €115m to date and will be used to fund Mollie’s international expansion as well as bolster its product offering and engineering team.  

Ken Serdons, chief commercial officer at Mollie, said: “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.”  

This year, Mollie expects to process over €10bn in transactions, double the amount it processed last year and has seen significant growth across Europe, particularly in Germany where it saw growth increase 1000 per cent on the year previous.   

Muz Ashraf, Principal at TCV, said: "We have been tracking Mollie for some time now, and believe it has built a product that is frictionless, highly developer-friendly and very localized.” 

“The proposition has resonated strongly with merchants and has catapulted Mollie to becoming a leading e-commerce payments provider in Europe." 

Since its launch in 2004, Mollie has amassed nearly 100,000 merchants as users of its payment processing service, including the likes of Deliveroo, Moët & Chandon, TOMS and UNICEF.