6 years ago

GoCardless Raises $75 Million to Expand Recurring Payments Network

  • GoCardless, a London-based recurring payments network, has raised $75 million in Series E funding led by Adams Street Partners, Google Ventures, and Salesforce Ventures

  • The company, which processes transactions for 40,000 businesses worldwide, plans to use the funds to expand its operations in EMEA, APAC, and North America

  • GoCardless is also investing heavily in its product development, including currency conversion, instant settlement, and smarter payment features

  • GoCardless aims to be the one-stop shop for businesses that want to let customers pay via recurring bank payments, simplifying the process of collecting payments for businesses.

      • ProblemFinancial Services

      "Businesses struggle to collect recurring payments reliably due to outdated payment methods like cards or cheques, which aren't designed for recurring payments and are prone to breaking the payment flow."

      Solution

      "GoCardless is building a global network for bank debit that enables businesses to easily collect recurring payments anywhere, in any currency. They are also investing heavily in features to boost cash flow and increase transaction success rates, such as instant settlement and smart payment features that utilize open banking."

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