GoCardless Secures USD312M in Series G Funding; Valued USD2.1 Billion

GoCardless
GoCardless Team

GoCardless, a London, UK-baserd provider of direct bank payment solutions, secured a Series G funding round of USD312m, at a valuation of USD2.1 billion.

The first close of USD192m has completed. The round, which is expected to fully close later in the year subject to regulatory approvals, was led by Permira with participation from new investor BlackRock Private Equity Partners.

The company intends to use the funds to accelerate its presence in the open banking space through both product and geographical expansion.

Led by Hiroki Takeuchi, co-founder and CEO, GoCardless is a global leader in direct bank payment solutions, making it easy to collect both recurring and one-off payments directly from customers’ bank accounts through direct debit and open banking. The global payments network and technology platform is used by 70,000 businesses worldwide, from multinational corporations to small businesses. Each year, GoCardless processes over US$30 billion of payments across more than 30 countries.

GoCardless, which is headquartered in the UK, with additional offices in Australia, France, Germany and the United States, will also add further technology and payments expertise to its Board of Directors with Michael Rouse, former Chief Commercial Officer at Klarna, joining, and Koen Köppen, Chief Technology Officer at Klarna and Board Member of Mollie, joining as an independent director.

As GoCardless builds on its decade-long experience in direct bank payments, the company will broaden its focus to enable both recurring and one-time payments, and continue its international expansion. It will also open its ‘bank pay’ network to other payment service providers who want to tap into its technology and platform.

FinSMEs

08/02/2022