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Europe has yet another fintech unicorn after Dutch payments startup Mollie completed a €90 million ($106 million) Series B funding round led by Silicon Valley growth fund and Netflix-backer TCV. The round brings Mollie’s valuation above $1 billion.

The payments space has gone through an accelerated period of growth throughout the coronavirus pandemic as businesses and consumers have been forced to move operations online. Rapid digitization and higher revenues have been a boon for companies in the space with Klarna, Adyen, Stripe, all competing for new business. 

Amsterdam-based Mollie is no different. Founded in 2004, the company believes it is suitably differentiated and has enjoyed strong growth during the pandemic. 

“We have been growing strongly throughout the year and that has been boosted by a significant structural change in the way that consumers pay due to Covid,” Ken Serdons, CCO at Mollie, told Business Insider in an interview. “Payments is a market that will continue to grow but it’s very fragmented, we believe we have an opportunity to differentiate because of our super-local approach.”

Mollie plays in the same front-end payments space as major US competitor Stripe with whom it competes for small and medium sized businesses across the continent and further …read more

Source:: Businessinsider – Technology


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