Mollie Acquires GoCardless in $1.1bn Deal
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The Financial Regulation Innovation Lab has awarded £50,000 grants to five Scottish fintech companies to support the development of solutions designed to strengthen operational resilience, regulatory responsiveness, and security within the UK financial sector. The grants follow a six-week programme where innovators worked closely with leading financial institutions such as NatWest, Morgan Stanley, M and G, and Tesco Bank. The selected companies are Profylr, Ionburst, HAELO, Continuity2, and Lupovis. They were chosen for their innovative approaches to addressing high-priority industry risks.
The initiative was created in collaboration with FinTech Scotland, Supertech West Midlands, the University of Glasgow, and the University of Strathclyde. Each selected company is developing next-generation tools to help financial institutions improve risk management and regulatory compliance. Profylr builds AI-powered solutions that turn regulatory data into predictive intelligence. Ionburst secures data across the cloud with dynamic security classification. HAELO automates global regulatory horizon scanning across hundreds of regulators and millions of documents. Continuity2 delivers an integrated platform for business continuity, IT disaster recovery, enterprise risk, and incident response. Lupovis provides real-time cybersecurity intelligence through a deception-based environment that detects advanced attacks and insider threats.
Nicola Anderson, chief executive of FinTech Scotland, emphasised that operational resilience is essential to maintaining trust in the financial services industry. She stated that FRIL is enabling innovation to address these challenges and enhance the strength of the UK’s financial ecosystem.
Throughout the programme, participating firms collaborated with industry leaders including KPMG, EY, and Sword Group to adapt their solutions to real-world industry needs. The grant recipients will continue working with these partners as they scale and refine their technologies. Mick O’Connor, founder of HAELO, highlighted the value of the programme, describing the customer sessions as commercial gold dust. Anne Lanc, co-founder of Ionburst, said the initiative gave them meaningful opportunities to understand the challenges faced by financial institutions and demonstrate the relevance of their solution.
Building on this momentum, FRIL has launched its next innovation call focused on the future of wealth support and financial advice. Fintech companies across the UK are encouraged to apply and help shape a more inclusive and data-driven future for financial guidance.
In a separate development within the fintech sector, Dutch payments company Mollie has agreed to acquire UK-based fintech GoCardless in a deal valued at $1.1 billion. The acquisition aims to create a combined provider serving more than 350,000 businesses by integrating card payments, local payment methods, and bank payments into one unified solution. The deal remains subject to regulatory approval and is expected to be finalised by mid-2026.
Mollie will integrate GoCardless’s global bank payment technology into its Mollie Connect platform, enabling businesses to accept both card and bank payments seamlessly. Mollie, founded in 2004, offers payment solutions including online and in-person payments, reconciliation, fraud prevention, and financing options. The company operates in more than 30 European markets and expanded into seven new markets over the past year, including Finland.
GoCardless, now in its twelfth year, reported £126.8 million in revenue for FY24, representing a 38 percent increase year on year. The company has recently appointed former Worldpay executive Shaun Puckrin as its chief product officer. The acquisition will allow Mollie to strengthen its offering with open banking capabilities while accelerating its reach across Europe.
Together, these developments highlight a transformative moment in the UK and European fintech landscape, with innovation funding and major acquisitions driving stronger capabilities in compliance, payments, security, and financial infrastructure.
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