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Mollie steps into financial services with Mollie Capital

Mollie steps into financial services with Mollie Capital

European payments fintech, Mollie, has launched Mollie Capital to facilitate SME access to finance and funding.

Aiming to provide easy access to cash for smaller and younger firms facing difficulty accessing finances and loans, Mollie Capital seeks to circumvent the hoops that SMEs are required to jump through to gain financing from traditional financial service providers.

Through the new service, users can apply for cash advances up to €250,000 based on various factors, including their history with Mollie. The product allows customers access to cash within the same day, which is requestable through the online app.

CEO of Mollie, Shane Happach, commented: “Mollie Capital is a milestone product launch for Mollie. It marks our first step towards becoming a financial services provider, whilst aligning with our goal to help small and medium-sized merchants compete. At Mollie, we believe in SMEs' success and want to help them grow.”

The service will be offered initially in Netherlands and Belgium, and plans to expand into other markets later in the year.

Recently, Mollie tapped ex-Klarna executive Koen Koppen as their new CTO.

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