- General
- February 18, 2019
- 4 minutes read
GoCardless Nabs $75 Million Series E Round
GoCardless co-founder and CEO Hiroki Takeuchi image : GoCardless U.K. online payments startup GoCardless has announced $75 million Series E…
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| GoCardless co-founder and CEO Hiroki Takeuchi image : GoCardless
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U.K. online payments startup GoCardless has announced $75 million Series E funding, led by new investors Adams Street Partners, Alphabet’s GV and Salesforce Ventures, with participation from existing backers Accel, Balderton Capital, Passion Capital and Notion Capital. The Y Combinator alum has now raised $123 million in total funding.
It says it now processes $10 billion in annual transactions, with 40,000 businesses making use of its service worldwide. By the end of this year, GoCardless will operate in 35 countries and nine bank debit schemes, across the UK, Australia, Europe and North America. It also plans to get into the US market this Spring.
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| GV (formerly Google Ventures) CEO David Krane
Photo by Steve Jennings/Getty Images for TechCrunch
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GoCardless was launched in 2011 by current CEO Hiroki Takeuchi and fellow entrepreneurs Tom Blomfield and Matt Robinson. The company’s founding team has quite a Midas touch, with Blomfield going on to create UK digital banking unicorn Monzo and Robinson moving on to launch Nested, a real estate startup backed by £165 million ($213 million by current exchange rates) in funding, according to Crunchbase data.
GoCardless says it plans to “soon cover more than 70% of the world’s recurring payment volume” on its network. The company says it’ll be building its team in new offices around the world, to grab more customers across North America, Asia Pacific and EMEA (Europe, the Middle East and Africa).
