BurdaPrincipal Investments has participated in a Series C funding round for the UK saving and investing app alongside existing backers.
"While BPI has a clear focus on marketplaces and platforms, we expanded our focus into the fintech industry by concentrating on business models that require no or a minimum of regulated equity amount only."
The company secured over 200 percent of its target on Seedrs with backing from more than 670 investors.
"the new world of finance requires levelling the playing field between regular traders and hedge funds. Until that point is reached, we’re here to hustle."
The investment will accelerate the delivery of next-generation bank-to-bank payments and open banking capabilities.
"This funding round demonstrates the strength of the business and the confidence both our customers and investors have in GoCardless. We’re incredibly proud to have seen continued business growth in such challenging times, and to have been able to continue supporting our customers – helping them stay in control of their payments and cash flow."
The London based fintech has closed a £22.3m pre Series B round led by Gauss Ventures and Simon Nixon.
"We are excited and humbled by the response our product has received by both investors and customers alike. Customers recognise our dedication to focus on their needs. This is what sets us apart from other BNPL players in the market today and what continues to drive us in creating a new category – we want and can help people during these difficult times as our systems self adapt to the socio economic conditions of the day and we feel privileged to be in a position to do so. We are just getting started and have some amazing new features coming soon, all of which track our customers’ way of life, financial constraints and aspirations!"