Total amount raised
$122.3 Millions
Latest funding date
2/1/2019
Location
GoCardless has successfully raised significant funding across multiple rounds, attracting a diverse group of investors. The platform specializes in facilitating seamless bank-to-bank payments for businesses, offering a range of services from automated recurring payments to instant one-off transactions.
Keep reading to delve into the details of GoCardless's funding journey and discover the key investors backing this innovative payment solution.
What Is GoCardless?
Founded in 2011 in London, GoCardless was established by Hiroki Takeuchi, Matt Robinson, and Tom Blomfield. The company specializes in facilitating seamless bank-to-bank payments for businesses, offering services such as automated recurring payments and instant one-off transactions.
GoCardless helps over 75,000 businesses globally, eliminating late payments and reducing administrative burdens. The platform integrates with various accounting systems to automate reconciliation and provides secure access to customer bank account data.
With a workforce of 501-1000 employees, GoCardless continues to innovate in the payment processing industry, making it easier for businesses to manage their financial transactions efficiently.
How Much Funding Has GoCardless Raised?
- Seed Round
- Amount Raised: $1.5M
- Date: February 2012
- Lead Investors: Accel, Passion Capital, Start Fund, SV Angel, Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and launch the platform.
- Series A
- Amount Raised: $3.3M
- Date: April 2013
- Lead Investors: Accel, Passion Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and scale the platform.
- Series B
- Amount Raised: $7M
- Date: January 2014
- Lead Investors: Balderton Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and expand market reach.
- Non-Equity Assistance
- Amount Raised: -
- Date: December 2014
- Lead Investors: Future Fifty
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To gain strategic support and resources for growth.
- Series C
- Amount Raised: $13M
- Date: March 2016
- Lead Investors: Notion Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate international expansion and product development.
- Series D
- Amount Raised: $22.5M
- Date: September 2017
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and enter new markets.
- Series E
- Amount Raised: $75M
- Date: February 2019
- Lead Investors: Adams Street Partners, Google Ventures, Salesforce Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and expand the customer base.
- Series F
- Amount Raised: $95M
- Date: December 2020
- Lead Investors: Bain Capital Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To invest in open banking and new product development.
- Series G
- Amount Raised: $312M
- Date: February 2022
- Lead Investors: Permira
- Valuation at Round: $2.1B
- Motivation Behind the Round: To accelerate growth in open banking and expand globally.
- Venture Round
- Amount Raised: -
- Date: July 2022
- Lead Investors: -
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and innovation.
Total Amount Raised: $529.3M. Current Valuation: $2.1B.
Key Investors
- Accel
- Details: Accel is a global venture capital firm that partners with exceptional founders with unique insights, from inception through all phases of growth. Founded in 1983, Accel has a long history of investing in technology companies.
- Investment Focus Areas: Technology, Internet, Software, Consumer
- Notable Investments: Facebook, Dropbox, Slack
- Permira
- Details: Permira is a global investment firm founded in 1985, advising funds with assets under management of approximately USD 65 billion. The firm focuses on long-term majority and minority investments.
- Investment Focus Areas: Technology, Consumer, Services, Healthcare
- Notable Investments: Klarna, Allegro, Genesys
- Bain Capital Ventures
- Details: Bain Capital Ventures is the venture capital arm of Bain Capital, investing from seed to growth stages in startups that drive transformation across industries. Founded in 1984, Bain Capital Ventures has a strong track record in tech investments.
- Investment Focus Areas: Fintech, Healthcare, SaaS, Infrastructure
- Notable Investments: LinkedIn, DocuSign, Jet.com
- Google Ventures
- Details: Google Ventures, also known as GV, is the venture capital investment arm of Alphabet Inc. Founded in 2009, GV provides seed, venture, and growth-stage funding to technology companies.
- Investment Focus Areas: Life Sciences, Artificial Intelligence, Robotics, Transportation
- Notable Investments: Uber, Nest, Slack
- Salesforce Ventures
- Details: Salesforce Ventures is the global investment arm of Salesforce, investing in the next generation of enterprise technology to extend the power of the Salesforce platform. Founded in 2009, it focuses on cloud computing and enterprise software.
- Investment Focus Areas: Cloud Computing, Enterprise Software, Artificial Intelligence
- Notable Investments: Zoom, Twilio, Dropbox
What's Next for GoCardless?
GoCardless stands at the cusp of significant growth opportunities, particularly in the open banking space. With a recent $312 million Series G funding round, the company aims to build a global 'bank pay' network, rivaling traditional card payments. This expansion is bolstered by strategic partnerships with industry giants like Klarna and PayPal, positioning GoCardless to serve millions of new customers and process billions more in transactions.
Future fundraising appears promising, given the company's unicorn status and the increasing investor interest in fintech. However, GoCardless will need to navigate regulatory hurdles and intense competition to maintain its growth trajectory. Ensuring the security and reliability of its payment solutions will be crucial as it scales operations globally.
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