GoCardless raises $95M Series F to accelerate investment in open banking

This fundraise, led by Bain Capital Ventures, will fuel open banking strategy, accelerating delivery of next-generation bank-to-bank payments.

GoCardless is a fintech leader in recurring payments which already supports more than 55,000 businesses worldwide, processing more than $13bn in transactions a year.Balderton first invested in GoCardless in 2014 and has supported the company since. The new funding, brings the total raised to-date to $240m.

This funding round demonstrates the strength of the business and the confidence both our customers and investors have in GoCardless. We’re incredibly proud to have seen continued business growth in such challenging times, and to have been able to continue supporting our customers – helping them stay in control of their payments and cash flow.

Hiroki Takeuchi, CEO and co-founder of GoCardless

Hiroki Takeuchi, CEO and co-founder of GoCardless

The new funds will help the company to accelerate its open banking strategy, combining the latest technology with its global bank debit network.For the first time, merchants will be able to access the best of both worlds for recurring payments: Instant open banking payments will provide visibility and speed, while bank debit maximises cash flow and minimises churn by pulling funds automatically from payers – all at a lower cost than cards. GoCardless will also expand its offering into the adjacent e-commerce market to launch a simple and secure way of making bank-to-bank payments as a lower-cost alternative to cards.

We believe that open banking is set to disrupt the payment landscape by introducing new, simpler and more secure ways of making bank-to-bank payments that will compete with the traditional card networks. Our investment in open banking innovation will create a uniquely valuable payment offering – continuing to provide our customers with the best way to collect recurring payments.

Hiroki Takeuchi, CEO and co-founder of GoCardless