GoCardless Team

The GoCardless team

Fintech start-up GoCardless raises £16.6m

Existing investors Accel, Balderton Capital, Notion, and Passion all returned to participate in the company’s latest funding round.

On the back of record annual growth in the UK and strong, early traction in new markets, GoCardless’ existing investors are doubling down with a further £16.6m to accelerate the creation of the first global bank-to-bank payments network.

Across the world, existing recurring payment options are incredibly fragmented between countries. Historic users of these solutions have primarily been domestic businesses with no requirement for international reach.

However, with the dramatic growth of global subscriptions and SaaS platforms, there is now soaring demand for a better way to collect recurring payments globally and no simple solution.

This is where GoCardless comes in. By creating a new international payments network, its mission is to help businesses take and settle recurring payments from anywhere, to anywhere, in any currency.

Already, GoCardless users are collecting payments across the UK, Eurozone and Sweden, with Australia and Denmark coming soon and more to follow.   

With this head start, they provide the solution to one of the financial world’s most enduring challenges.

Hiroki Takeuchi, CEO and founder, said: “As more and more businesses become international, they face endless frustrations in managing payments across multiple territories.

“What we have engineered is a way to simply plug recurring payments into their existing systems, across the world, so they can focus on the challenges that really matter.”

Martin Gibson from Accel, who led the round, said: “We look for businesses solving real problems and using tech to make cumbersome processes scalable.

“GoCardless has already demonstrated tremendous growth in this area, and recent hires at the senior level show it is building the business to own this sector.”

“To see GoCardless with such a head start on this mission, yet still pushing to accelerate faster, is exactly what we look for in our founders.”