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GoCardless helps businesses accept Direct Debit payments.

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GoCardless raises $22.5m to build global payments network

2nd Oct 2017
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GoCardless helps businesses accept Direct Debit payments.

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GoCardless has raised $22.5m from Accel, Balderton Capital, Notion Capital and Passion Capital. The funding will be used for the creation of a global bank-to-bank payments network.

GoCardless has raised funding for the creation of a payments network that will bring together recurring payment solutions that remain fragmented across countries, enabling users to manage payments across multiple territories.

Whereas in the past, most businesses using these solutions were domestic, the increasingly globalised world has increased the global subscriptions and SaaS platforms. GoCardless is helping to solve this challenge by plugging recurring payments into existing systems across the world.

Customers can collect payments across multiple countries, including the UK, Eurozone and Sweden. Other countries such as Australia and Denmark will soon follow. Over the coming months and years, GoCardless’ mission is to enable businesses around the world to process recurring payments from anywhere, to anywhere - in any currency.

GoCardless now processes more than $4bn worth of transactions a year, across over 30,000 organisations in the UK and Europe. Their partnership platform is flourishing with integrations with QuickBooks, Xero and Zuora as well as the recent partnership with Sage.  With this recent round of funding, GoCardless is now a step closer to achieving their vision of building a global payments network for the internet.

Find out more about GoCardless.

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