EQT Growth

EQT Growth invests in Mollie, one of the largest payment service providers in Europe

EQT Growth invests in Mollie, one of the largest payment service providers (PSPs) in Europe, as part of its USD 800 million (EUR 665 million) Series C round, at a valuation of USD 6.5 billion (EUR 5.4 billion)

Mollie is disrupting the historically underserved European payments market with its localized payment capabilities and tech-forward product, and benefits from the rapid growth of e-commerce

EQT Growth will leverage its deep networks and unique experience in scaling leading fintechs to support Mollie’s growth and geographic expansion through Europe

EQT is pleased to announce that EQT Growth has invested in Mollie (“the Company”), one of Europe’s largest payment service providers. The investment is made through EQT AB’s balance sheet and is part of Mollie’s USD 800 million (EUR 665 million) Series C round, which gives the Company a valuation of USD 6.5 billion (EUR 5.4 billion)

Mollie is one of the largest PSPs in Europe, serving more than 120,000 active merchants across the continent and employing an international team of nearly 500 professionals. Headquartered in Amsterdam, Mollie facilitates online payments acceptance for companies of all sizes across the Netherlands, Belgium, Germany, France and the UK. The Company has experienced exceptional growth in recent years with revenues more than doubling in 2020, driven by Mollie’s local payment method capabilities, tech-forward product, and out-of-the-box integrations with key small and medium enterprise (SME) business operations and finance platforms.

Mollie’s addressable market has experienced strong growth in recent years as a result of consumers shifting their consumption patterns online and this accelerated during the COVID-19 pandemic as e-commerce and electronic payments adoption rapidly increased. This growth has been especially pronounced in the historically underserved European SME online payments market, which in many countries remains dominated by legacy incumbents with ill-equipped technology offerings and therefore offers very attractive expansion opportunities for Mollie. The Company also plans to hire 300 new team members in the next six-to-nine months, while continuing to invest in product and engineering.

EQT Growth will leverage its deep networks in local European markets to help drive Mollie’s accelerated international expansion, as well as using its strong in-house digital marketing and tech teams to support Mollie’s digitalization. It will also employ its unique experience in scaling innovative, international fintechs - including Banking Circle, Bought By Many, Vault and VBill - as Mollie continues its journey to becoming Europe’s leading SME payments platform.

This marks EQT Growth’s fifth investment since it was launched in late 2020, with Mollie joining a portfolio that includes other European technology champions such as Bought By Many, Vinted and Epidemic Sound. The team is dedicated to unleashing growth in Europe’s leading technology firms, taking a thematic approach to identifying winners in four broad sectors: Enterprise Tech, Con/Prosumer Tech, Health Tech and Climate Tech.

Dominik Stein, Partner within EQT Growth’s Advisory Team, “In Mollie we have a true European technology champion, which through its locally tailored approach, tech-forward extensible product, and unrivalled customer service is in prime position to serve the European SME market. It is now one of Europe’s largest PSP’s and has enabled thousands of European SMEs, which are the backbone of the economy, to thrive. EQT Growth is immensely proud to be supporting Mollie on the next step of their journey.”

Shanne Happach, CEO of Mollie, “There’s something very special about Mollie. In the three months since I joined the team we’ve achieved so much: establishing strong foundations in the UK ahead of full launch, driving 600 percent growth in Germany and hiring an impressive set of team members and executives. The involvement of our new group of investors, including EQT Growth, demonstrates confidence in Mollie’s growth, strategy and product set.”

Contacts

Finn McLaughlan

finn.mclaughlan@eqtpartners.com / +44 771 534 1608

EQT Press Office. EQT Group

press@eqtpartners.com / +46 8 506 55 334

About

  1. About EQT

    EQT is a purpose-driven global investment organization focused on active ownership strategies. With a Nordic heritage and a global mindset, EQT has a track record of almost three decades of delivering consistent and attractive returns across multiple geographies, sectors and strategies. Uniquely, EQT is the only large private markets firm in the world with investment strategies covering all phases of a business’ development, from start-up to maturity. Including Exeter, EQT today has more than EUR 67 billion in assets under management across 26 active funds within two business segments – Private Capital and Real Assets.
    With its roots in the Wallenberg family’s entrepreneurial mindset and philosophy of long-term ownership, EQT is guided by a set of strong values and a distinct corporate culture. EQT manages and advises funds and vehicles that invest across the world with the mission to future-proof companies, generate attractive returns and make a positive impact with everything EQT does. The EQT AB Group comprises EQT AB (publ) and its direct and indirect subsidiaries, which include general partners and fund managers of EQT funds as well as entities advising EQT funds. EQT has offices in 24 countries across Europe, Asia-Pacific and the Americas and has more than 975 employees.
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  2. About Mollie

    Mollie is a pioneer in the payment industry. The company is also one of the fastest growing payment processors within Europe. Mollie facilitates companies of all sizes to scale and grow by using different payment methods. With the help of a simple and clear payments-API Mollie can offer multiple payment methods in a uniform way. Mollie is there to simplify complex financial services. At this stage, Mollie has more than 120,000 customers in Europe and its mission is to become the most loved PSP in Europe. Mollie comprises an international team of more than 480 professionals, has its headquarters in Amsterdam and offices in four other locations across Europe. More