Blackstone-backed payments provider Mollie has reportedly moved closer to finalising its takeover of UK fintech GoCardless.
People familiar with the matter, referenced in a Bloomberg report, indicated that an announcement could come within days. The process follows GoCardless’s earlier move away from a planned secondary share sale for investors and former employees, choosing instead to pursue a full ownership change.
Although neither company has disclosed valuation details for the prospective deal, GoCardless was valued at about USD 2.1 billion in 2022. Reports earlier this year suggested discussions were taking place around a reduced figure of roughly USD 1.5 billion.
The firm, whose shareholders include Permira, BlackRock Private Equity Partners, Accel, Balderton Capital and GV, recorded a pretax loss of around USD 46.7 million in the year to June 2024. Its cost-cutting efforts included reducing staff numbers by approximately 20% and relocating certain functions to Eastern Europe. GoCardless serves close to 95,000 clients globally and recently expanded its offering through the acquisition of Nuapay.
Consolidation in Europe’s payments sector
Mollie, valued at USD 6.5 billion in 2021, processes transactions for over 250,000 merchants across Europe and has a workforce of about 900. A completed deal would extend its presence in recurring payments and support its service range. It’s worth noting that representatives from both Mollie and GoCardless have not provided public comment on the talks.
If agreed, the takeover would represent one of the more notable European private market fintech transactions. It would also reflect the increasing influence of private-equity-backed platforms as payments providers attempt to scale in a sector marked by tightening competition, changing customer preferences and continued investment in infrastructure modernisation. Analysts following the industry note that further consolidation is likely as firms seek efficiencies, expand geographically, and respond to larger rivals’ efforts to expand their own integrated payments capabilities.
