Mollie to invest €1m in tech firms supporting its customers

Dutch payment processing firm Mollie is investing €1m in tech businesses that can power up its customer base.

Called the Mollie Acceleration Fund, Mollie says it will invest in developers, startups and digital agencies that can help the growth of its over 125,000 e-commerce merchant customers.

The Dutch firm said it would welcome teaming up with “new SaaS solutions and add-on products that enhance Mollie’s offering via new tools, applications or third-party software”.

Those companies picked, which can be located anyway across the world, will get a chunk of investment, access to Mollie’s customers, use of its tools and marketing and customer insights.

“Mollie has demonstrated continuous commitment to investing in technology partnerships and integrations,” said Ken Serdons, CCO of Mollie.

"We are seeing great traction from tech start-ups and scale-ups that want to build out their payments capabilities with Mollie.

“For a company like Mollie the entire ecosystem of developers, startups and agencies are incredibly important - both to our success and the success of our customers. 

“By working with these companies even more closely, and by financially recognizing their devotion to our platform, we will drive innovation that supports the growth of our merchants. 

“These relationships will help us go beyond our existing plans for evolving our payments platform and launching financial services products, into areas neither we, nor our customers, can imagine today.”

In June, the payments processing firm closed a massive $800m (€665m) funding round to help it realise its international expansion plans as well as grow its team and product offerings.

The funding round meant its valuation skyrocketed to €5.4bn, joining a list of fintechs to have tripled (or nearly tripled) their valuations in a short amount of time.

Mollie, which was set up in 2004, closed a previous  €90m funding round in September 2020. In total it has now raised over €780m.

It used the funding from its last round to add hundreds of employees to its 480-strong staff, deepen its presence across Europe and abroad and investing in its technology platform and expand its product offering into financial services for SMEs.