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Online Payments

GoCardless secures USD 75 mln series E investment

Monday 18 February 2019 | 12:01 PM CET

GoCardless has secured a USD 75 million series E investment to open up access to its global bank debit network.

According to the press release, by spring 2019, the GoCardless network will cover 70% of the global recurring payments volume, spanning North America, Europe, and APAC, enabling businesses to take recurring payments in any currency, via automatic bank debit. 

New investors – Adams Street Partners, GV (formerly Google Ventures), and Salesforce Ventures participated in the round and were joined by return investors Accel Partners, Balderton Capital, Notion Capital, and Passion Capital. 

The company will use this investment to scale its business, build teams in new offices across EMEA, APAC, and North America and give businesses around the world access to one unified global bank debit network for taking subscription, instalment, and invoice payments. In addition, the company will invest in its recurring payment platforms and bank debit service.

Currently, more than 40,000 global merchants transact through GoCardless each month; the business processes USD 10 billion of payments each year.

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