View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
February 9, 2022updated 10 Feb 2022 8:20am

GoCardless raises $312m through Series G round

UK fintech GoCardless has raised $312m in a latest investment round at a valuation of $2.1bn.

The series G fundraise was led by Permira. BlackRock Private Equity Partners also joined the round as a new investor.

The fresh capital will be leveraged by GoCardless to grow its presence in the open banking space through both product and geographical expansion.

It will also help the firm further accelerate its efforts to drive both recurring and one-time payments with plans to open its ‘bank pay’ network to other payment service providers.

GoCardless, which processes over $25bn in transactions annually, counts Klarna, Epson, DocuSign, and TripAdvisor amongst the 70,000 businesses it serves globally.

Since its last funding round in 2020, the firm has doubled its valuation and increased its headcount by 85%.

In April last year, it introduced a new open banking feature Instant Bank Pay to enable merchants to accept bank-to-bank payments.

As part of the round, former Klarna chief commercial officer Michael Rouse will join GoCardless’ director board, while Klarna CTO Koen Köppen will join the firm as an independent director.

GoCardless co-founder and CEO Hiroki Takeuchi said: “I am delighted to have partners like Permira and BlackRock Private Equity Partners on board, with their global footprint and strong expertise in tech, to support us in building a direct bank payment network that lets payments flow freely, without cards, expiration dates or extra costs. I look forward to working with them and our new board members to accelerate the future development of GoCardless.”

Last July, GoCardless teamed up with financial management and accounting platform Pennylane to allow SMEs manage and collect recurring payments.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Electronic Payments International