Fintech firm secures $95m Series F funding to continue global expansion

A London-based recurring payments specialist has secured multi-million dollar investment in its latest funding round.

GoCardless has raised $95m in a Series F investment round led by Bain Capital Ventures, bringing the firm’s total raised to date to $240m.

Specialising in recurring payments services for businesses, GoCardless processes over $18bn of payments annually across more than 30 countries.

The firm, which has seen 46 per cent year-on-year growth, will use the funding to accelerate its open banking strategy as well expand its offering into the adjacent e-commerce market.

Hiroki Takeuchi, CEO and co-founder of GoCardless, commented: “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.

“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.”

Matt Harris, partner at Bain Capital Ventures, added: “We’re excited by GoCardless’ enormous growth potential in a massive and largely untapped market.

“In particular, we’re seeing strong early results as GoCardless moves beyond SMBs to serve mid-market and enterprise customers and expands its international footprint to address a growing need for bank debit processing.

“We have enormous confidence in Hiroki and the entire GoCardless team to build a multi-billion dollar company that will redefine the payments industry.”

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