Open banking is making direct bank-to-bank customer payment transfers easier in the ecommerce world and is set to reduce the role of credit cards.
We need a word for a fintech company that is worth close to $1 billion but is not quite there yet: a nearicorn, perhaps.
GoCardless, the UK-headquartered global payments company that enables recurring customer payments for 55,000 large and small companies in 30 countries, has just become one.
On Thursday, it announced it has raised $95 million in a series F funding round led by Bain Capital Ventures. That brings to $240 million the amount the company has raised since Hiroki Takeuchi and Matt Robinson founded it in 2011 – and it establishes a valuation for GoCardless of $970 million.
GoCardless Raises $95 Mn In Funding Round Led By Bain Capital Ventures The payment platform will use the funding to accelerate its open banking strategy, combining the latest technology with its global bank debit network
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London-based fintech company GoCardless
on Thursday announced it has raised $95 million in a Series F funding round led by Bain Capital Ventures that will fuel open banking strategy and accelerating delivery of next-generation bank-to-bank payments.
The payment platform will use the funding to accelerate its open banking strategy, combining the latest technology with its global bank debit network. Merchants will be able to access both portals for recurring payments of instant open banking payments that will provide visibility and speed, while bank debit maximizes cash flow and minimize
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Funding round led by Bain Capital Ventures will fuel open banking strategy, accelerating delivery of next-generation bank-to-bank payments
SAN FRANCISCO (PRWEB) December 17, 2020
GoCardless, a fintech leader in recurring payments supporting more than 55,000 businesses worldwide, today announces it has raised $95m in a Series F funding round.
This latest fundraise, led by Bain Capital Ventures, follows 46% year-on-year growth for GoCardless despite the challenging economic environment and supports its ambitious growth plans. It brings the total raised to-date to $240m.
GoCardless will use the funding to accelerate its open banking strategy, combining the latest technology with its global bank debit network. For the first time, merchants will be able to access the best of both worlds for recurring payments: Instant open banking payments will provide visibility and speed, while bank debit maximizes cash flow and minimizes churn by pulling funds automatically from payers -
UK Payments Platform GoCardless Scores $95 Million Through Series F Investment Round Led By Bain Capital Ventures
UK-based payments platform
GoCardlessannounced on Thursday it raised $95 million through its Series F funding round, which was led by Bain Capital Ventures. Founded in 2011, GoCardless is on a mission to take the pain out of getting paid for businesses with recurring revenue.
“We’ve created a global bank debit network, to rival credit and debit cards. On top of it, we’ve built a platform designed and optimised for taking invoice, subscription, membership and installment payments.”
GoCardless also noted that it has processed $13 billion in transactions a year and supports more than 55,000 businesses worldwide. Speaking about the investment round, Hiroki Takeuchi, CEO and co-founder of GoCardless, stated:
London-based payments startup GoCardless has raised a Series F funding round of $95 million.
The funding was led by Bain Capital Ventures and takes the total raised by the company to $240 million.
GoCardless is a payments processor that competes with US giant Stripe and is the latest in a string of major European fintechs to fundraise in 2020.
London-based payments fintech startup GoCardless has raised a Series F funding round of $95 million.
The funding, first reported by Business Insider at the beginning of November and confirmed by GoCardless on Wednesday, was led by Bain Capital Ventures and takes the total raised by the company to $240 million.