European payments fintech, Mollie, has launched Mollie Capital to enhance SME access to finance and funding.
The initiative aims to provide simpler cash access for smaller and younger firms that often struggle to secure financing through traditional financial service providers. Mollie Capital seeks to streamline the process, eliminating many of the obstacles SMEs face when seeking loans.
With this new service, users can apply for cash advances of up to €250,000, determined by several factors, including their payment history with Mollie. Customers can expect to receive funds on the same day, with applications accessible via an online app.
Mollie CEO Shane Happach stated, “Mollie Capital is a milestone product launch for Mollie. It marks our first step towards becoming a financial services provider, while also aligning with our goal to assist small and medium-sized merchants in competing effectively. At Mollie, we are committed to the success of SMEs and want to support their growth.”
Initially available in the Netherlands and Belgium, Mollie Capital plans to expand into additional markets later this year.
Additionally, Mollie has recently appointed former Klarna executive Koen Koppen as their new CTO.