Dutch paytech Mollie receives UK payment institution licence from the FCA
Dutch paytech firm Mollie has received a UK payment institution licence from the Financial Conduct Authority (FCA), two years after it first launched for merchants in the UK.
FCA licences Mollie as UK payment institution
The Amsterdam-based payment service provider, founded in 2004, was previously operating in the UK under the Temporary Permissions Regime, and says it plans to use its new regulatory approval to run as a dual-licensed financial services group with access to multiple markets.
With the new licence under its belt, Mollie intends to offer “fully integrated business financing services and additional payment solutions” for its UK-based clients.
The company provides payment solutions that integrate with ecommerce platforms, enabling its business clients to broaden their local payment acceptance capabilities in the spheres of online payments, recurring payments and payment requests.
Last year, the company tapped open banking fintech Plaid to make it “easier and faster” to onboard new merchant clients. It last raised $800 million in a Series C funding round led by Blackstone Growth (BXG) back in June 2021.
Koen Köppen, the paytech’s CEO since January, describes its latest licencing as “a huge milestone”, and says that it “opens new avenues for growth and collaboration” while strengthening its foothold in “the dynamic UK market”.
