The funding will help Mollie expand globally, scale its team and invest in its technology platform to offer financial services for SMEs
Mollie gets $800m funding from Blackstone Growth. (Credit: Mollie B.V.)
Mollie, a payment service provider in Europe, has raised $800m in a Series C funding round to support its global expansion, team scaling and investment in new products.
The funding round led by funds managed by Blackstone Growth, the growth equity investing business of Blackstone, brings the total investment in the company to more than $940m.
TCV, which led the Series B investment in September last year, EQT Growth, General Atlantic, HMI Capital and Alkeon Capital have participated in the funding round.
Blackstone Growth European investing lead Paul Morrissey said: “Mollie is one of Europe’s most exciting high-growth businesses and is at the forefront of enabling next-generation payments for online SMEs across Europe.
“We are excited to partner with Mollie’s fantastic team and look forward to leveraging Blackstone’s capital, expertise and global network to unlock the company’s next phase of growth.
“This investment underlines Blackstone’s confidence in Europe as a place for high-growth companies to thrive.”
Established in 2004, Mollie is a large-scale payment service provider (PSP) in Europe, serving more than 120,000 monthly active merchants of all sizes.
The funding will enable the company to expand globally, scale its team and invest in its technology platform, expanding its product portfolio into financial services for SMEs.
With around 480 employees and plans to hire 300 new team members, Mollie is evaluating additional countries for expansion both within Europe and beyond.
The company claimed that it has processed more than €10bn in transactions last year and is capable of handling more than €20bn during 2021.
Mollie CEO Shane Happach said: “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.
“Over the past months, Mollie has been receiving a remarkable amount of interest from some of the world’s foremost fintech investors.
“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.”