Mollie buys GoCardless in €1.05bn deal
Dutch payments firm Mollie is set to acquire UK-based GoCardless in a €1.05 billion deal, creating a significant "payments powerhouse" in the European fintech landscape. This strategic move, confirmed after summer rumors, underscores the consolidation happening within the digital payments sector and aims to strengthen European fintech against global competitors. The deal is expected to create a company that serves over 350,000 businesses. GoCardless, with approximately 800 employees, specializes in direct debit payments for recurring transactions. Mollie, employing over 900 people, focuses on the European SME market and processes billions of euros in transactions annually, competing with major players like PayPal and Stripe. The acquisition will integrate card payments and bank payments into a single platform, enhancing service offerings for customers and accelerating growth. This acquisition brings together two prominent fintech companies, aiming to optimize payment processes for businesses across Europe and beyond. The combination of Mollie and GoCardless will enable the new entity to offer a more comprehensive payment solution. It potentially impacts thousands of businesses, particularly SMEs that rely on efficient and integrated payment processing. The deal, comprised of 90% stock and a small cash element, reflects confidence in the combined entity's future. With GoCardless valued at $2 billion in 2022 and Mollie at $6.5 billion in 2021, the acquisition signifies a major development in the European fintech space, enhancing its competitive position.
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