European financial services provider Mollie has launched Mollie Capital in the UK to offer small and medium-sized enterprises (SMEs) access to quick funding options. 

Mollie Capital will look to address the financing challenges faced by SMEs in the UK, who often find themselves underserved by conventional financial institutions. 

It will offer UK retailers access to funding of up to £250,000 to expand their business.  

Mollie Capital will offer a streamlined process. Merchants who have been processing payments with Mollie for 90 days can apply for funding in as little as five minutes, with funds transferred within 24 hours once a decision is made. 

The repayment plan is based on a fixed one-time fee and a percentage of the merchant’s daily sales.  

Mollie Capital was first introduced in Europe in late 2022, enabling SMEs to access funding for needs such as acquiring discounted inventory and amplifying marketing efforts during peak shopping seasons.  

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Through the partnership with YouLend, Mollie Capital has provided loans exceeding €50m to over 5,000 SMEs across the Netherlands, Belgium, and Germany.  

Mollie UK managing director Mia Hunter said: “Mollie Capital is our first financial service to launch in the UK – the first of many designed to eliminate financial bureaucracy for SMEs. For too long, small and mid-size UK merchants have been neglected by incumbent payment services providers, lenders and banks.  

“They just do not invest in the simplicity and flexibility SMEs need to manage their finances. Mollie Capital fills a critical gap in the UK market. In Europe, we have customers repeatedly using, and paying back, this new source of funding to drive impressive levels of sustainable growth.” 

Mollie’s presence in the UK market began in early 2021, operating under the Temporary Permissions Regime for EU-based financial services companies.  

It was granted a Payment Institution licence from the UK’s Financial Conduct Authority in June 2023.