GoCardless secures £17m in boost for UK fintech

| Beauhurst

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Fintech and SaaS platform GoCardless yesterday secured $22.5m (£16.6m) in equity investment in its largest funding round to date.

GoCardless operates a payment platform that allows merchants to take payments online via direct debit, after which users can authorise payments anywhere GoCardless is used with just a click. Used already by branches of the government, Virgin, the Guardian, Tripadvisor, and many others, GoCardless is set to take a bite out of the payments SaaS market.

The funding comes from several VCs; Accel PartnersNotion CapitalBalderton Capital, and Passion Capital.

All these firms have invested at least once previously, with Accel and Passion contributing for the fifth time (out of GoCardless’ five rounds). This round takes GoCardless’ total raised to £33.2m, and as of 2016 accounts the company had turnover of almost £3m.

Accelerated by FutureFifty, GoCardless started life in 2011 as Groupay Ltd. It was founded by Hiroki Takeuchi and Matt Robinson; Takeuchi is now its CEO, and Robinson acts as a board member. 


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