Mollie becomes the latest fintech unicorn by raising a funds of €90m

Mollie, the Amsterdam-based payment offerings company, raised a €90m Series B investment round that places it into the €1bn+ valuation category. The round became led through US venture corporation TCV, whose portfolio consists of Netflix, Facebook, Spotify and Revolut.

Mollie, founded in 2004 and most recognized in the Dutch, Belgian and German markets, is up in opposition to a few tough competition from well-established groups like Stripe and Adyen, however is trying to win over particularly small and medium-sized enterprise clients through making it as easy as viable to sign up to its offerings.

“We don’t want to be the biggest payment services provider, we want to be the most loved,” says Ken Serdons, Mollie’s chief commercial officer.

In addition to creating itself as friction-loose as viable by integrating with all of the online buying platforms and partnering with groups that construct ecommerce sites, Mollie is hoping to carve a spot for itself because the payment company that understands local European needs.

“We want to be more local than Stripe — we make sure we are optimised for all the local payment methods, and that you can get local language customer service,” says Serdons. This is how the company won Deliveroo as a customer in the Netherlands, he further added..

Like most on-line payment services organizations, Mollie has seen a huge boom in interest throughout the coronavirus crisis, as many small agencies had to fast flow to serving clients on-line.

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“We saw a huge influx of new customers and a big increase in volumes. The coronavirus pandemic meant we probably gained a couple of years worth of growth in a short time. But the good thing is that the business grew faster in July than it did in June so it is not just a coronavirus effect, that trend is still continuing,” says Serdons.

Mollie plans to apply the money to extend into new markets. The organisation, which has more than 100,000 clients, says it has seen processing volumes growth 1000% in Germany withinside the past yr and 500% in France. Serdons declines to say — for now — if the organisation will enter the United Kingdom market, which has proved hard for continental fintech entrants like N26 and Holvi.

Headcount has been developing rapidly — up to around three hundred people now, from less than a hundred and eighty a yr ago.