GoCardless secures £71.8m in Series F funding led by Bain Capital Ventures to drive open banking expansion.
The investment will accelerate the delivery of next-generation bank-to-bank payments and open banking capabilities.
GoCardless provides direct bank payment solutions that facilitate recurring and one-off collections for businesses worldwide. The firm operates a global network handling billions in transactions across multiple countries.
GoCardless has secured a Series F financing of £71.8m led by Bain Capital Ventures. The capital will support the company as it advances its open banking strategy and expands its footprint into the e-commerce sector.
The latest funding follows a period of robust growth for the firm, which reported a 46 percent year-on-year increase despite challenging economic conditions. The fresh injection of capital brings the total amount raised by the company to $240m.
The investment will enable the integration of instant open banking payments with the firm's established bank debit network, providing merchants with lower transaction costs and improved cash flow management.
From the founder
"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."
Hiroki Takeuchi
Co-founder and CEO at GoCardless
Investor perspective
"We’re excited by GoCardless’ enormous growth potential in a massive and largely untapped market. In particular, we’re seeing strong early results as GoCardless moves beyond SMBs to serve mid-market and enterprise customers and expands its international footprint to address a growing need for bank debit processing. We have enormous confidence in Hiroki and the entire GoCardless team to build a multi-billion dollar company that will redefine the payments industry."
Matt Harris
Partner, Bain Capital Ventures
Use of funds
- 01Continue product development
- 02Expand into international markets
Investors
Categories
About the company
GoCardless
GoCardless provides direct bank payment solutions for businesses worldwide.