Mollie closes in on GoCardless as European payments consolidation accelerates

Dutch payments processor Mollie is on the brink of acquiring UK fintech GoCardless in what would be one of Europe’s most consequential private-market payments deals this year.

According to people close to the discussions, the transaction could be announced within days, marking the culmination of months of strategic manoeuvring by both companies as competition intensifies across the continent’s payments ecosystem.

A Strategic Pivot for GoCardless

The deal follows a notable shift in direction for GoCardless.

Nearly a year ago, the company initiated a secondary share sale to provide liquidity for investors and long-tenured employees. But the process was halted abruptly as management began exploring a full sale instead — a reflection of tighter venture funding conditions and growing pressure to reach profitability.

GoCardless, last valued at $2.1bn in 2022, has been in talks at a materially lower valuation of roughly $1.5bn, according to reports earlier this year.

The firm serves almost 95,000 merchants globally, specialising in account-to-account and recurring payments, and bolstered its capabilities with the acquisition of Nuapay in 2024.

Despite a pretax loss of about £35m in the year to June 2024, cost-cutting measures — including a 20% reduction in headcount and relocating roles to Eastern Europe — helped narrow its deficit.

Mollie’s Bid to Expand Scale and Capability

For Mollie, backed by Blackstone and valued at $6.5bn at its 2021 fundraising peak, acquiring GoCardless would significantly enhance its product breadth, particularly in bank-to-bank payment flows.

The Dutch firm processes payments for more than 250,000 European businesses and has been broadening its offering, including the launch of a new payment terminal in 2025 to strengthen its in-person commerce proposition.

Bringing GoCardless into the fold would give Mollie a deeper foothold in subscription-driven sectors and strengthen its competitive hand against larger rivals such as Adyen.

It would also unite two of Europe’s most prominent venture-backed payments firms at a moment when scale, efficiency, and diversified revenue models are becoming essential to survival.

A Landmark Deal for Europe’s Fintech Market

If completed, the acquisition would underscore the growing role of private-equity-backed platforms in reshaping Europe’s payments landscape.

With regulatory demands rising and margins tightening, consolidation is emerging as the industry’s defining trend — and Mollie-GoCardless may prove a watershed moment in that shift.