GoCardless, a London, UK-based online direct debit provider, raised $22.5M in funding.
The round was led by Accel, with participation from Balderton Capital, Notion Capital, and Passion Capital.
The company intends to use the funds to accelerate the creation of its global bank-to-bank payments network.
Led by Hiroki Takeuchi, CEO and founder, GoCardless operates an international payments network for businesses to take and settle recurring payments from anywhere, to anywhere, in any currency. The company’s API enables integrations with over 100 partners including Xero, Sage and Zuora. Already, GoCardless users are collecting payments across the UK, Eurozone and Sweden, with Australia and Denmark coming soon and more to follow.
In total, it has collected $4bn annual transactions across 30k businesses in Europe with customers including Sage, Thomas Cook, Box and The Guardian, among the others.
The company has also expanded its team with Andrew Gilboy who joined as new Chief Revenue Officer, from Demandware, and Carlos Gonzales-Cadenas, who joined as Chief Product & Technology Officer, from Skyscanner.