Investments

Mollie Is Latest Payments Tech Startup To Reach Unicorn Status

Mollie Tech Startup Attains Unicorn Status

Dutch FinTech Mollie has just closed on $100 million in new financing, as the startup looks to expand internationally and pump additional money into product development and engineering.

TCV, a major equity investor with a focus on technology, led the Series B round of funding, Mollie said in a press release.

The $100 million in investment capital marks the second time Mollie has cut a major financing deal, following a $29.5 million injection of capital last year.

This latest round pegs Mollie’s value at over $1 billion, Adriaan Mol, founder of Mollie, told TechCrunch, thrusting the FinTech into the ranks of tech “unicorns,” privately held tech startups worth $1 billion or more.

“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,” said Mol in a statement.

The investment deal comes as Mollie – and the entire field of digital payments and services – rides a wave of growth as shoppers and merchants alike turn to online marketplaces amid the coronavirus pandemic.

“Across Europe, COVID-19 has dramatically accelerated the shift to eCommerce,” Mol said in a press release. “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.”

Founded in 2004 by Mol, an engineer, while he was living in his parents’ house, the company expects to process more than $11.7 billion in transactions this year, double the business it did last year.

The digital payments service provider currently counts 100,000 merchants across Europe in its network.

“We are delighted to partner with Adriaan and the Mollie team,” said TCV General Partner John Doran. “TCV looks to invest in category-leading technology companies that are disrupting large markets – exactly what Mollie is doing today.”

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NEW PYMNTS DATA: HOW WE SHOP – SEPTEMBER 2020 

The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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