GoCardless enters tech unicorn club; secures funding of $312 Mn

GoCardless, a leading fintech platform in direct bank payments, has reportedly announced securing USD 312 million in a Series G funding round, making it the latest UK and European tech unicorn at USD2.1 billion valuation.

The investment round was led by Permira, which holds significant experience in supporting the greatest financial and payment software businesses like Carta, Klarna and Clearwater Analytics, and was also backed by new investor BlackRock Private Equity Partners.

As per credible reports, the company’s valuation has doubled since the previous funding round held in December 2020 and has also observed an increase in the headcount by 85%.

Apparently, the investment will let GoCardless expand its footprint in the open banking realm by both geographical and product expansion. This would add to its aim to become world’s foremost platform for direct bank payments.

GoCardless conducts transactions worth $25 billion per year and caters to nearly 70,000 global businesses such as Klarna, DocuSign, Epson and TripAdvisor.

According to sources, GoCardless accelerated its investment in open banking product development and launched Instant Bank Pay, a leading method to collect one-off bank-to-bank payments by using open banking. The process has assisted merchants in the Europe and UK to conduct payment worth millions of dollars.

Hiroki Takeuchi, Chief Executive Officer and Co-Founder of GoCardless, stated that the increase of open banking platform showcases a once-in-a-generation shift which will revamp the payment method across the world.

He mentioned that GoCardless is delighted to have BlackRock Private Equity Partners and Permia as its allies. With their strong tech knowledge and global footprint, the firm will build a direct bank payment platform which allows flow of payments without cards, extra costs and expiration dates.

Imperatively, GoCardless will also expand its focus to allow one-time and recurring payments along with continuing its international expansion.

Source Credits:- https://www.businesswire.com/news/home/20220208005473/en/GoCardless-Joins-Tech-Unicorns-as-It-Secures-USD312-Million-to-Accelerate-Growth-in-Open-Banking