Dutch B2B payments company Mollie has introduced Mollie Capital, a credit service for the platform’s existing customers to obtain cash advances of up to €250,000.

Customers will be able to apply for funding through the platform’s dashboard and funds can be made available as early as on the same day.

Those approved for funding need only pay a fixed one-time fee, and Mollie will automatically take repayments as a portion of the company’s daily sales.

Mollie Capital is currently available to select businesses in the Netherlands and Belgium, with plans to launch in other parts of Europe later this year.

The company previously raised a US$800 million Series C led by Blackstone Growth in June 2021.

“Mollie Capital is a milestone product launch for us. It marks our first step towards becoming a financial services provider whilst aligning with our goal to help small- and medium-sized merchants compete with the industry’s biggest players,”

said Shane Happach, CEO of Mollie.