A payments startup, whose backend was built while the founder was still living at home with his parents, announced a massive funding round that pushed it into the stratosphere, as one of the most valuable startups in Europe. Mollie, which is based in Amsterdam, provides a way for businesses to integrate payment into sites, documents, and other services, using an API.
Mollie announced that it has raised $800 (€665 million) million in an all-equity round that places the company’s value at $6.5 billion (€5.4 billion). Blackstone Growth (BXG) led the investment, with EQT Growth, Alkeon Capital, HMI Capital, and TCV.
Mollie is growing very fast
Last year, TCV led Mollie’s breakout Series B funding round in September. The company has seen major growth and is on track to process nearly $24 billion on payments in 2021, a 100% growth compared to last year when it processed about 10 billion euros.
Currently, Mollie has 120,000 monthly active merchants, compared to 100,000 in 2020. Some of the customers include Deliveroo, Guess, Acer and Unicef. Mollie is gaining between 400 and 500 new customers every day.
How Mollie grew
The pandemic did play a role in the growth levels we see the company enjoying since everything is moving to the digital world now. However, there is more to the story. The company is growing at the same pace as last year, even as the pandemic eases. This indicates that the markets have moved to the digital world and will continue to use it heavily, which will see Mollie grow even more.