Mollie founder, Adriaan Mol | Image credit: Mollie
Amsterdam-based Mollie, a company that builds a platform to integrate payments into a website or app, announced on Tuesday, September 27, its foray into financial services with the launch of Mollie Capital, a fast and flexible way for customers to access financing .
Mollie says the launch is a decisive step for the company in the financial sector and provides better access to funds for SMEs.
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What can you expect from Mollie Capital?
The company says Mollie Capital is a fully integrated business finance service. Depending on a number of variables, including their Mollie transaction history, eligible customers can request cash advances of up to €250K. Through the Mollie dashboard, they can submit a funding request and, in most cases, the money will be made available the same day. Refunds are automatically deducted from daily sales in addition to a fixed one-off fee.
Research has shown the challenges young, creative businesses face when trying to get loans, including this European Central Bank research into SMEs’ access to finance. The lack of e-commerce SMEs to purchase goods, fund marketing efforts or make investments in business growth is holding them back.
By enabling Mollie clients to realize their full potential for development, Mollie Capital claims to offer a replacement for conventional financing. It helps save time and increases efficiency with the entire funding process managed on the same platform where they receive their earnings.
Shane Happach, CEO of Mollie, says: “Mollie Capital is a milestone product launch for Mollie. It marks our first step towards becoming a financial services provider, while aligning with our goal of helping small and medium-sized merchants to compete. With long, cumbersome requirements to obtain funding, SMEs have been increasingly underserved by the big banks. Mollie Capital will ensure they can access the fast, flexible and easy funding they need to thrive. “
In the Netherlands and Belgium, Mollie Capital will first be made available to a limited number of companies, with ambitions to expand to other regions later in the year.
Mollie: Everything you need to know
Founded in 2004 by Adrian Mol, Mollie is a payment platform that offers an easy-to-implement process for integrating payments into a website or app. With a simple and clear payment API, Mollie offers multiple payment methods equally.
The fintech company is on a mission to make online payments easy for merchants by removing the complexity of payment methods and offering a simple yet ‘powerful’ API.
Currently, Mollie processes payments for more than 130,000 customers with local payment methods such as Mastercard, VISA, Amex, PayPal, iDEAL, Bancontact, Bitcoin, SEPA Direct Debit, Cartes Bancaires, ESP, Giropay, SOFORT Banking and more.
It has an international team of more than 750 employees working from offices across Europe, including Amsterdam, Lisbon, London, Munich and Paris.
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