Mollie reports 2023 profits from its ‘customer centric’ approach

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Mollie, a European financial services provider, has recorded positive net revenue alongside further growth in its 2023 financial results.

Publishing its full-year 2023 financial results this week, Mollie reported a net revenue of €99m, a growth of 36% compared to 2022, which has been attributed to attracting new and larger customers and developing new products such as Mollie Capital.

Additionally, the company focused on in-person payments, with the launch of its in-person payment solution Mollie Terminal last year. While expanding its product offering it also looked to accelerate its international expansion in Germany, France and the UK.

Koen Köppen, CEO at Mollie: “Twenty years ago, Mollie launched a simple and affordable solution for Dutch companies to receive payments. Last year we looked at how we could get back to the original mission behind it: to eliminate financial bureaucracy by simplifying financial processes for businesses. 

“To do that, we improved efficiency, focused on new products and new international markets. The figures show that this paid off in 2023.”

In addition, the financial services provider’s operating costs fell by 30%, from €179.8m in 2022 to €126.7m in 2023. To achieve this dramatic reduction, Mollie used AI technology to enhance operational efficiencies, launching MollieGPT, a GenAI model that aims to optimise support documentation and contacts for customers.

It was this ‘customer centric’ approach that led to the launch of Mollie Terminal, a smart solution for omnichannel customers. This solution coupled with the expansion of the company’s product offering to include more integrated financial services, allowed customers to simplify payments and money management through a single platform.

Moving into 2024, Mollie has reported a ‘strong’ start, sharing that it was again operationally profitable last month. Looking forward, the financial services provider’s strong cash position and capital will help ensure further future growth. 

Köppen concluded: “In the coming years, we will continue to launch more products that make it easier for our customers to focus on their core business. This applies to our smallest customers as well as our larger customers such as Gymshark, O’Neill, Castore, Soak&Sleep, Total Fishing Tackle and Q-Park.”