Mollie Buys GoCardless to Build Europe’s Most Complete Payment Hub

Mollie, a fast-growing European Payment Service Provider (PSP), announced earlier today, December 11, that it will acquire GoCardless with the goal of creating Europe’s most complete payment platform.

The company’s announcement revealed today that it has signed an agreement to acquire bank payment firm GoCardless. The strategic combination creates one provider, serving more than 350,000 businesses, that integrates card payments, local methods, and bank payments into a single solution.

Solving A Major Challenge For Businesses Of All Sizes

The company went on to explain that businesses scaling internationally or building recurring revenue models face a persistent challenge, which lies in fragmented payment infrastructure. As such, it increases both the complexity and cost of making payments.

By joining forces and combining their technologies, Mollie and GoCardless will grant businesses access to an unmatched suite of tools from a single partner. These tools are designed to solve the problems businesses face and further fuel their growth.

By offering a scalable partner for every merchant – from SMEs to large enterprises – the new platform will provide the tools they need to grow. Large businesses will be able to choose to consolidate their European payment stack, while SMEs will have access to powerful, enterprise-grade tools that are simple to use.

Next, the solution will directly address the core challenge of involuntary churn by enabling businesses to offer reliable bank payments alongside cards. “This significantly reduces payment failures, lowers transaction costs, and improves cash flow for subscription models,” Mollie explained.

SaaS platforms and vertical software vendors will also be able to benefit from using Mollie Connect, as they will now be able to choose to integrate GoCardless’ bank payment network into their products and enable users to accept both bank and card payments via a single solution. Ultimately, it will act as a simplified pathway to enter and scale into new international markets.

Making Money Management Effortless

Commenting on the acquisition, Mollie’s CEO, Koen Koppen, said that the company’s mission has always been to make money management effortless, and that the company itself was founded on the vision of eliminating financial bureaucracy for businesses.

“We see that bureaucracy creates challenges, especially for businesses with recurring revenue. A card-only approach has its limits, leading to high costs due to failed payments and customer churn. GoCardless built the definitive solution to optimize 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 explained.

Meanwhile, GoCardless’ co-founder and CEO, Hiroki Takeuchi, said that his firm is excited to join forces with Mollie, and that the deal will bring together two highly complementary businesses, each of which has built best-in-class products across Europe and beyond.

“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,” he noted.