Menu visibility control

Video

Events

Startup Surgery

Most Recent

News

Startup Weekly: IKEA Bootcamp, Nesta’s ShareLab Fund and much more

Government & Policy

Theresa May: Tech giants should be encouraged to do more to fight online extremism

News

Alfa Financial completes ‘largest UK tech listing in almost two years’

Press Releases

Zzish hits £1.15m funding target on Crowdcube for technology that will democratise quality education and move the needle on learning
Okappy announces the launch of its investment pitch on the AngelsDen equity crowdfunding platform
Recruitment disruptor talent.io poised for further growth with €8m investment secured

GoCardless raises $13m to build new global bank-to-bank payments network

GoCardless
twitterlinkedinFacebookgoogle_plustwitterlinkedinFacebookgoogle_plus

GoCardless has raised $13m in a funding round led by Notion Capital.

The round also drew participation from existing investors Balderton Capital, Accel Partners and Passion Capital.

A statement said the company will use the funding to meet increasing demand from new enterprises and to build out its payment network across the globe.

Notion Capital raises $220m to invest in tech firms

Hiroki Takeuchi, GoCardless’ founder, spoke about the round’s closure:

“Our vision is to create the first global bank-to-bank payment network and we are really excited to have hit £1 billion in annual payments for our merchants. While our early years focused on helping UK SMEs get access to Direct Debit, our recent growth has been driven by increasing demand from larger corporates and new markets like France and Germany.

“This investment from Notion puts us in a great position to build on our traction across Europe to create an increasingly global footprint. We will use this scale to bring further benefits to our UK merchants and to continue to ramp up in continental Europe,” he added.

Currently, GoCardless is operating in six different markets, recently adding Spain, the Netherlands and Sweden to the UK, France and Germany and is planning to expand further in the next 12 months.

Notion Capital managing partner, Stephen Chandler, commented about his firm’s involvement in the fundraise: “The reason we’ve invested is pretty straightforward: the world is moving toward subscription models and Direct Debit is the most efficient and cost effective way to process them.

“GoCardless brings this into the digital age, making it simple to integrate and removing the last barriers to broader adoption,” he concluded.

The company has now raised a total of $25m from venture capitalists including Notion Capital, Balderton Capital, Accel Partners, Passion Capital and Y Combinator.

Enter your email address to receive updates straight to your inbox

* indicates required
Send me news on...
twitterlinkedinFacebookgoogle_plustwitterlinkedinFacebookgoogle_plus

Editor's picks

Startup Weekly

Startup Weekly: IKEA Bootcamp, Nesta’s ShareLab Fund and much more
posted 7 hours ago

Theresa May

Theresa May: Tech giants should be encouraged to do more to fight online extremism
posted 10 hours ago

Alfa Financial completes ‘largest UK tech listing in almost two years’
posted 13 hours ago

Tim Farron, Liberal Democrats

The Liberal Democrats Manifesto: what does it mean for UK tech?
posted 14 hours ago

Startup team

A £20m Series B, Microsoft’s new Surface Pro, mermaid emojis and more in The Week in Tech
posted 17 hours ago

British robot firm moves production to Madrid to maintain EU base post-Brexit
posted on May 25, 2017