Friday Fundings: Mollie, Transmit, and GOAT
Online Payments Company Secures $800 Million in Funding
Mollie, an Amsterdam-based payments startup, recently raised $800 million in funding. The company is now valued at $6.5 billion, making it one of the most valuable startups in Europe. Blackstone Growth led the round with participation from EQT Growth, General Atlantic, HMI Capital, Alkeon Capital, and TCV.
Mollie helps businesses integrate payments into websites and documents via API. Its customers include Deliveroo, UNICEF, Acer (ACER), and other large organizations. The startup is on track to handle almost $24 billion in payments in 2021, which represents 100% year-over-year growth. Demand for Mollie’s services surged during the pandemic. Now, many analysts expect that businesses’ dependence on ecommerce is here to stay, which will mean more growth for Mollie.
Biometric Security Company Raises $543 Million
Transmit Security has raked in $543 million in a Series A funding round—the largest Series A round in cybersecurity history. The company is now valued at $2.2 billion. Insight Partners and General Atlantic led the round.
Transmit Security is a startup which helps businesses integrate biometric authentication technology into their systems. By using facial recognition or fingerprints, companies can allow users to sign into sites without passwords. This improves user experience as well as security. Transmit plans to use the funding to expand its primary business functions and to grow its footprint globally.
GOAT Group Rakes in $195 Million
GOAT Group has raised $195 million in a late-stage funding round. This more than doubled the online sneaker marketplace’s valuation to $3.7 billion. Park West Asset Management led the round.
Founded in 2015, GOAT serves over 30 million customers in 170 countries. Its gross merchandise value over the past year, representing the total volume of goods sold, was $2 billion. With the fresh funding, the company plans to increase its sneaker offerings and grow its apparel and accessories business. It also has plans to expand in China and Japan.
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