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September 7, 2020Blog Posts

Dutch payments startup Mollie raises $106M at $1B+ valuation

TechCrunch

E-commerce has seen a huge jump in the last eight months, driven by consumers shopping more for goods online while spending more time at home during the COVID-19 pandemic. Today, a payments startup out of Amsterdam that has itself seen a surge of growth this year as a result of that is announcing a big round of funding to help it continue expanding its products and international footprint to meet that demand.

Mollie, a startup that offers a simple, API-based way to integrate payments into a site or an app, has raised €90 million ($106 million) in a round of funding led by TCV. The Series B brings the total raised by Mollie  to €115 million and notably catapults the startup’s valuation to over $1 billion, founder and CEO Adriaan Mol confirmed in an interview with TechCrunch.

Mollie has been around since 2004 and this is only the second time it’s raised funding — the first was a €25 million round a year ago — which is possibly one reason why it has not been much on the startup radar.

Currently the company focuses mainly on small and medium businesses — a vastly underserved but giant market — and counts some 100,000 merchants as customers, predominantly in the Netherlands, Belgium and Germany. Those customers include some very high-profile names like Wickey, Deliveroo, TOMS (the shoe company) and UNICEF.

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