GoCardless has successfully raised significant capital through multiple funding rounds, attracting a diverse group of investors. The platform specializes in online payment processing, offering solutions for both instant and recurring payments.
Keep reading to delve into the details of GoCardless's fundraising journey and the key investors supporting this innovative payment solution.
What Is GoCardless?
GoCardless, founded in 2011, is headquartered in London, United Kingdom. The company was established by Hiroki Takeuchi, Tom Blomfield, and Matt Robinson.
Specializing in online payment processing, GoCardless offers solutions for both instant and recurring payments, aiming to simplify the payment collection process for businesses.
With a workforce of over 500 employees, GoCardless serves more than 85,000 businesses globally, providing a reliable and efficient payment platform.
How Much Funding Has GoCardless Raised?
- Seed Funding
- Amount Raised: $1.5 million
- Date: February 2012
- Lead Investors: Accel Partners, Passion Capital, SV Angel, Start Fund, Y Combinator
- Motivation Behind the Round: The proceeds were used to build out the team, enhance the product, and expand the merchant base.
- Series A
- Amount Raised: $3.3 million
- Date: April 2013
- Lead Investors: Accel Partners, Passion Capital
- Motivation Behind the Round: The funding was used to expand GoCardless's reach across Europe, improve its referral system, and add more functionality to its product.
- Series B
- Amount Raised: $7 million
- Date: January 2014
- Lead Investors: Balderton
- Motivation Behind the Round: The funds were used to add more talent and target larger enterprises, aiming to take on banks by providing a modern, API-based solution for direct debit payments.
- Series C
- Amount Raised: $13 million
- Date: March 2016
- Lead Investors: Notion Capital
- Motivation Behind the Round: The funds were used to increase spending on sales and marketing, further international expansion, and meet growing demand for the payments platform.
GoCardless has raised a total of $24.8 million in funding. The current valuation is $100 million (~estimated).
Key Investors
- Notion Capital
- Details: Notion Capital is a venture capital firm based in London, specializing in early to growth-stage technology companies. They led the latest $13 million funding round for GoCardless.
- Investment Focus Areas: SaaS, enterprise software, fintech
- Notable Investments: Tradeshift, Currencycloud, Mews
- Balderton Capital
- Details: Balderton Capital is a European venture capital firm that focuses on early-stage, technology-driven companies. They led the Series B funding round for GoCardless.
- Investment Focus Areas: Technology, fintech, consumer internet
- Notable Investments: Revolut, Citymapper, The Hut Group
- Accel Partners
- Details: Accel Partners is a global venture capital firm that invests in early and growth-stage technology companies. They have been involved in multiple funding rounds for GoCardless.
- Investment Focus Areas: Technology, internet, software
- Notable Investments: Facebook, Dropbox, Slack
- Passion Capital
- Details: Passion Capital is a London-based venture capital firm that invests in early-stage technology startups. They have been a consistent backer of GoCardless since its early days.
- Investment Focus Areas: Technology startups, fintech, consumer internet
- Notable Investments: Monzo, GoCardless, Tide
- Y Combinator
- Details: Y Combinator is a startup accelerator that provides seed funding, advice, and connections to early-stage startups. GoCardless is an alum of their program.
- Investment Focus Areas: Early-stage startups, technology, internet
- Notable Investments: Airbnb, Dropbox, Stripe
What's Next for GoCardless?
GoCardless is poised to capitalize on the growing demand for bank-to-bank payments, particularly in subscription-based commerce. With plans to expand into new markets like Spain, Sweden, and the Netherlands, the company aims to double its current processing volume of £1 billion annually. This expansion presents a significant opportunity to increase its customer base and market share.
Future fundraising efforts will likely focus on supporting this international growth and enhancing their technological capabilities. Given their track record of successful funding rounds, attracting additional investment seems promising. However, GoCardless will need to navigate technical and regulatory challenges in new regions, as well as fend off competition from other payment platforms.
Use Clay to Get Funding Data
Sales professionals, take advantage of Clay’s platform to access comprehensive fundraising data on companies like GoCardless and gather other critical business insights.
Sign up for free today and empower your sales strategy with the data you need to succeed.
