GoCardless, a London, UK-based online recurring payments platform provider, raised $13m in venture capital funding.
The round was led by Notion Capital with participation from existing investors Balderton Capital, Accel Partners, and Passion Capital. In conjunction with the funding, Notion Capital will take a seat on GoCardless’ board.
The company will use the funds to improve the existing product in the UK and Europe, as well as expand its global presence.
Led by Hiroki Takeuchi, CEO, GoCardless allows anyone at start-ups to multi-national corporations to take business-to-business and recurring payments directly from the bank account of customers in the UK, the Eurozone and Sweden.
The company, which is authorized by the Financial Conduct Authority under the Payment Services Regulations 2009, is now processing more than £1 billion per year, with 16,000 merchants collecting over 10 million payments each year through its bank-to-bank network.
The system is now available for businesses in UK, Spain, the Netherlands, Sweden, France and Germany.
The company is hiring.