Mollie to rollout services to UK SME sector

Red flag stuck in a map of the UK signifying London.
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Mollie has strengthened its position in the UK by launching its SME-focused Mollie Capital product in the country.

The Amsterdam-based company believes that UK SMEs are ‘underserved’ by traditional lenders, and so is offering local firms access to up to £250,000 in funding after using its payments processing services for 90 days.

This includes a fixed one-time fee with a repayment plan based on a percentage of a company’s daily sales. 

“Mollie Capital is our first financial service to launch in the UK – the first of many designed to eliminate financial bureaucracy for SMEs,” said Mia Hunter, Managing Director of Mollie UK. “For too long, small and mid-size UK merchants have been neglected by incumbent payment services providers, lenders and banks. 

“They just don’t invest in the simplicity and flexibility  SMEs need to manage their finances. Mollie Capital fills a critical gap in the UK market. In Europe, we have customers repeatedly using, and paying back, this new source of funding to drive impressive levels of sustainable growth.”

SMEs are a core target market for Mollie, which has built up a user base of various small businesses across Europe in the likes of the Netherlands, Belgium and Germany.

The firm’s customers include new businesses, companies requiring smaller funding amounts, and those that prefer revenue-based financing. 

Companies use its services primarily for price cutting and boosting of marketing spend during peak shopping periods, such as Christmas and Black Friday, according to Mollie.

Sebastian Bakker, General Director of Dutch ecommerce brand CookingLife, an early customer of Mollie Capital, said: “We used Mollie Capital while renovating our new head office and warehouse. It helped us pre-finance more activities during construction to invest more in our new warehouse. This will benefit us later during the year-end rush.”