GoCardless, a UK-based recurring payments company serving more than 55,000 businesses worldwide, raised $95m in a Series F funding round.
This round, which brings the total raised to-date to $240m, was led by Bain Capital Ventures.
The company will use the funding to accelerate its open banking strategy, combining the latest technology with its global bank debit network and expand its offering into the adjacent e-commerce market. Merchants will be able to access instant open banking payments while bank debit maximizes cash flow and minimizes churn by pulling funds automatically from payers – all at a lower cost than cards.
Led by Hiroki Takeuchi, CEO and co-founder, GoCardless provides a global payments network and technology platform for more than 55,000 businesses worldwide, from multinational corporations to small businesses, to get paid. Each year, the company processes US$18bn+ of payments across more than 30 countries.
Among others, users included Docusign, 8×8, Brompton Bike Hire and Bridgestone’s MOBOX.