14 years ago

GoCardless Secures $1.5 Million to Simplify Online Bank Payments

  • GoCardless, a London-based online payment platform startup, has raised $1.5 million in funding and launched publicly

  • Backers include Accel Partners, Passion Capital, and YCombinator

  • The company plans to use the capital to build out its team and product, and expand its merchant base

  • Founded in 2010, GoCardless aims to simplify bank payments online by providing a REST API that enables merchants to integrate with the platform and start taking flexible and recurring payments without a merchant bank account, bypassing the card network

  • The company has integrated with over 300 merchants since launching a beta product in late 2011.

      • ProblemTechnology

      "businesses accepting payments online have to rely on slow and expensive credit card networks. This can be a major pain point for businesses of all sizes."

      Solution

      "GoCardless offers a platform that allows businesses to accept bank payments directly, bypassing the need for credit card networks. This allows businesses to save money on transaction fees and make it easier for customers to pay."

      Covered on