In addition, the company has launched a new tool that allows its SMB customers to accept direct debits online.GoCardless helps businesses of all sizes establish automatic bill pay, direct debits and recurring payments. The system is aimed at merchants who cannot or do not want to take credit card payments.
The company had previously raised USD 1.5 million in seed funding in early 2012, following its participation in the Y Combinator Summer 2011 class. Since its public launch, GoCardless has been steadily growing at 40 percent month-over-month and serves 5000 merchants.
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