The funding helps Mollie’s valuation hit the $6.5B mark. Here are the top-line bullets you need to know.
Mollie, a digital payments service provider, has raised $800M in a Series C. The round drew participation from Blackstone, General Atlantic, HMI Capital, Alkeon Capital Management, and EQT, among others.
HOW’S THE COMPANY PERFORMING?
- Amsterdam-based Mollie helps e-commerce stores integrate payments solutions through its APIs.
- The firm reportedly expects to process payments of €20B ($24M) in 2021. This represents a 100% increase from the previous year, during which it processed payments worth roughly €10B ($11.9M). It currently has 120,000 monthly active merchants, up from 100,000 in 2020.
- Mollie’s customers include Deliveroo, UNICEF, Acer, and Guess, among others. It adds between 400 and 500 new customers daily.
WHY DOES THE MARKET MATTER?
- The fintech market is projected to grow at a CAGR of 22.2% to reach a value of $305B by 2025, according to Market Data Forecast.
- Global fintech adoption stands at 25% and provides enormous opportunities for growth to service providers and first movers.
- The Covid-19 pandemic has driven the adoption of cashless transactions through digital payment solutions and online payment gateways.
- The market has seen a funding boom in recent years. In Q1’21, VCs infused $22.8B into fintech companies.