Amsterdam payment fintech unicorn Mollie enters UK
Mollie, Amsterdam-based payment service unicorn, has announced its expansion into the UK market to help merchants with European growth post-Brexit.
As a result, the Dutch fintech company has enhanced its service available to UK companies who can incorporate a variety of EU payment methods into their e-commerce websites.
Appointed Josh Guthrie as Head of the UK
Mollie’s UK operations will be overseen by newly appointed Josh Guthrie, the company’s Head of the UK. Josh will take care of the company’s local office and lead the company’s effort to help SME businesses navigate international expansion post-Brexit.
Talking about the UK expansion in an exclusive interview with UKTN, Josh Guthrie, says, “Expansion to the UK is an exciting opportunity for Mollie: it is Europe’s largest e-commerce market, one of the most innovative, and while it hasn’t been a focus we’ve already organically acquired a base of brilliant UK customers – including Gymshark, Facetheory, Joseph Joseph and Baker Ross.”
Mollie’s enhanced services give UK merchants the ability to tap into new markets and EU customers the choice to use their preferred payment methods, even when shopping with a UK retailer.
‘Brexit has created new challenges’
Josh Guthrie adds, “Brexit is accelerating the opportunity – which is why we have taken steps to make our current product, which our existing UK customers use to offer the local payment methods needed to succeed across Europe, more readily available to UK merchants.”
Through Mollie’s partnerships with Klarna, Magento, and EU gateways, UK merchants can trade competitively in the eurozone.
“Yes, Brexit has created new challenges but Mollie’s existing product, strong partnerships, and one and a half decades of experience in pan-European payments mean we’re uniquely positioned to support UK merchants navigate a new world of payments outside of the single market.”
Lack of excellence for UK merchants
The company’s entry into the UK market follows Mollie’s €90 million (approx £78.5 million) investment from TCV, announced in September 2020, which it said would be used to accelerate international expansion.
Talking about standing out in the crowded market, Guthrie says, “Mollie’s aim is to become the most loved payments provider in Europe. We do this by taking a local approach to the market, providing superior integrations and technology, and offering top-quality support to merchants irrespective of size. Albeit crowded, there is still a lack of this level of excellence for UK merchants.”
“This has fuelled our rapid growth in Europe, where we’ve become a favourite amongst SME and mid-sized businesses. Like other competitive markets that we operate in, this approach stands us in good stead in the UK,” says Guthrie.
Taking a local approach
The Amsterdam-based payment company has also launched a weekly newsletter for UK merchants selling cross-border which assembles key developments, best practice, case studies, and useful resources on Brexit and international expansion.
Throwing some light on the strategy, Josh Guthrie, shares, “Our strategy is to build on the success we’ve had in Europe by taking a local approach to the market, providing superior integrations and technology, and top quality support to merchants irrespective of size.”
“Currently, our focus is helping more UK merchants succeed in Europe with the creation of our UK team, based in London, and we plan to invest further in the UK in the future.”
Simplifying complex financial services
Founded by Adrian Mol, Mollie facilitates companies of all sizes to scale and grow by using different payment methods. At present, the company has more than 110,000 customers in Europe and aims to become the most loved PSP in Europe.
“Our UK team, headed by Josh Guthrie, has been set up to service our existing customers. As we grow, we will add more headcount. We’re currently working remotely but looking forward to regathering in our King’s Cross office when that is possible. Our immediate goal is to support UK merchants with their EU payments needs using our current European payments product.”
Mollie comprises an international team of more than 350 professionals, has its headquarters in Amsterdam and offices across Europe including London, Munich, and Paris. “With our long-standing heritage in Europe and our focus on creating localised payment experiences, Mollie is uniquely placed to help customers navigate this shift and continue to grow internationally,” concludes Guthrie.