Amsterdam fintech unicorn Mollie is now 20 years old: Key takeaways from 2023 financial result
Amsterdam-based Mollie, a payment service provider, on Thursday, published its 2023 financial results.
The announcement comes as the Dutch fintech unicorn celebrates its 20th year as it continues to strive towards its mission of making payments and money management seamless for every business in Europe.
Mollie: Celebrating 20 years of integrating payments
Founded in 2004 by Adrian Mol, Mollie is a payments platform that offers an “easy-to-implement” process for integrating payments into a site or app.
The platform aims to simplify online payments for merchants by taking away the complexity of payment methods and offering a “simple yet powerful” API.
Currently, the Amsterdam-based firm processes payments for more than 200,000 clients with local payment methods such as Mastercard, VISA, Amex, PayPal, iDEAL, and more.
Here are key takeaways
Net revenue growth increased by 36%
In 2023, Mollie posted a net revenue of €99M, a growth of 36 per cent compared to 2022.
This is due in part to attracting new and larger customers, investing in new products such as Mollie Capital, in-person payments, and accelerating international expansion in Germany, France, and the UK.
Decline in operating cost by 30%
Operating costs fell by 30 per cent – from €179.8M in 2022 to €126.7M in 2023.
Mollie used AI to enhance operational efficiencies and improve customer experiences.
One notable achievement was the introduction of MollieGPT, a GenAI model designed to optimise support documentation and customer contacts.
This, along with a stronger focus on product development and improved interdisciplinary internal collaboration, has led to increased operational efficiency.
Customer-centric strategy
In 2023, Mollie made significant progress with its customer-centric strategy by consolidating and expanding its customer operations center in Maastricht.
The introduction of Mollie Terminal, which offers a smart solution for omnichannel customers, showcases Mollie’s dedication to meeting customer needs.
Additionally, Mollie expanded its product range to include more integrated financial services, enabling customers to streamline payments and money management through a single platform.
Strong start to 2024
Mollie is on a positive trajectory in 2024, remaining operationally profitable in March 2024. In addition, the financial services provider’s strong cash position and capital help ensure further future growth.
What Mollie’s CEO has to say?
Koen Köppen, says “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 and focused on new products and new international markets. The figures show that this paid off in 2023.”
“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,” concludes Köppen.
