GoCardless to use £58m funding to open US office

Keiligh Baker's picture

London-based fintech GoCardless has received £58million in Series E funding which it will use to open new offices across EMEA, APAC and North America.

In addition to its London HQ, the company already has sites in France, Australia and Germany, from which it says it processes transactions for 40,000 businesses worldwide.

Co-founder and CEO Hiroki Takeuchi said: "We’re incredibly excited to announce a new investment round of $75 million, led by new investors Adams Street Partners, GV (formerly Google Ventures) and Salesforce Ventures, as well as existing investors: Accel, Balderton Capital, Notion Capital and Passion Capital.

"This Series E investment takes the total amount we’ve raised to $123 million and enables us to take the next steps on our mission to take the pain out of getting paid, so businesses can focus on what they do best.

Takeuchi said the company will also use the money to invest heavily in its product, with a product team of around 100 members.

GoCardless is creating a new international payments network to rival credit and debit cards. Their ambition is to break down barriers so businesses can quickly and easily take payments from anyone, anywhere in the world.

They currently process £3billion worth of transactions for over 30,000 organisations across the UK and Europe.

With clients ranging from small businesses to household names such as Thomas Cook, TripAdvisor and the Guardian, GoCardless brings together a range of Direct Debit schemes across the UK and Europe.