The integration of their services will enable Mollie to be a scalable partner for small and large merchants, the company said.
Dutch fintech Mollie is acquiring UK’s GoCardless for €1.05bn, creating a combined customer base of more than 350,000 businesses.
After the acquisition, Mollie, which is backed by Blackstone Growth, EQT Growth‚ General Atlantic and HMI Capital, is set to be valued at €1.95bn. The deal is expected to be finalised by mid 2026.
UK’s GoCardless brings with it a customer base of more than 100,000 businesses. The company processes more than $130bn worth of payments annually across more than 30 countries.
While the 2004-founded Mollie serves more than 250,000 businesses, providing online and in-person payments, reconciliation, fraud prevention and flexible financing.
The integration of their services will enable Mollie to be a scalable partner for small and large merchants, the company said.
SaaS platforms and vertical software vendors using Mollie can now integrate GoCardless’s bank payment network directly into their products, enabling their customers to accept both card and bank payments through a single embedded solution, it explained.
“Mollie’s mission has always been to make money management effortless. We were founded on the vision to eliminate financial bureaucracy for every business. We see that bureaucracy creates challenges, especially for businesses with recurring revenue,” said Koen Köppen, the CEO of Mollie.
“A card-only approach has its limits, leading to high costs due to failed payments and customer churn. GoCardless built the definitive solution to optimise this process with its global bank payment network.
“By bringing them into Mollie, we take a huge step towards fulfilling our vision and creating one complete platform for sustainable growth,” he added.
In 2021, Mollie raised €665m in a Series C round, reaching a valuation of €5.4bn at a time when fintechs saw their prices soar as a result of the pandemic. Since, the company dropped in valuation.
Meanwhile, GoCardless was last valued at $2.1bn in early 2022.
“We’re incredibly excited to join forces with Mollie. This deal brings together two highly complementary businesses that have built best-in-class products across Europe and beyond,” said Hiroki Takeuchi, the co-founder and CEO of GoCardless.
“By combining our expertise in card, bank and hyperlocal payments into one provider, we can better serve our customers, accelerate growth and raise the bar for the industry. It’s a win for European fintech and we’re confident that the new company will be greater than the sum of its parts.”
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