GoCardless Secures a $75M Boost to Build the First Global Bank Debit Network
Talk about the future of recurring payments? GoCardless is stepping up with a fresh $75‑million Series E round, opening the door to the world’s first unified global bank debit network. By spring 2019, that network will already drive smooth, automatic debits for 70 % of the world’s recurring payment volume — covering North America, Europe, and APAC.
Who’s on the Investor List?
- New round partners: Adams Street Partners, GV (formerly Google Ventures), and Salesforce Ventures
- Returning go‑getters: Accel Partners, Balderton Capital, Notion Capital, Passion Capital
With these fresh funds, GoCardless is gearing up to expand its footprint. Think new offices popping up in EMEA, APAC, and North America, all aimed at giving businesses worldwide a seamless way to collect subscriptions, instalments, and invoices through one global debit channel.
Why Recurring Payments Need a Make‑over
In today’s subscription‑centric economy, 18 % of all global payments are recurring. Yet most of those businesses still wrestle with clunky, one‑off payment methods—cards, checks, and manual bank transfers. The result? Half of every $58 trillion business deal in 2016 still peddles paper‑based transactions, with subscription companies losing up to 4 % of customers each month due to payment hiccups.
CEO Hiroki Takeuchi on the Pain
“Collecting recurring payments is broken now,” says GoCardless CEO Hiroki Takeuchi. “Our global network is the missing puzzle piece that lets businesses collect payments anywhere, in any currency, all with the comfort and familiarity of a bank debit. Thanks to our investors, we can finally roll this out worldwide and help businesses cut out the headache of getting paid.”
New Features in the Pipeline
- Cross‑border payment services – Easy FX handling for any international transaction.
- Instant settlements – Keep cash flow steady and budgets tight.
- Payment intelligence – A boost in success rates by predicting and handling potential failures.
GoCardless: The One‑Stop Shop for Recurring Payments
With over 40,000 merchants worldwide processing more than $10 bn annually, GoCardless is proving to be the only global payments player truly focused on recurring revenue.
Growth Highlights
- 290 team members across UK, France, Australia, Germany.
- Growth in non‑UK revenue has jumped 500 % since 2017.
Industry Voices
Tom Hulme, GV noted, “GoCardless brings together seasoned financial and tech talent to solve a real market need — low‑cost recurring payment solutions that work worldwide. Their blend of ease and global integration is truly positioning them as a game‑changer.”
Diego Passarela, billing and payments at Quandoo shared a sweet scoop: “Before GoCardless, each country required a separate bank and setup. Now, one platform covers every nation. The adoption rate is up to 85 % and it gives us crystal‑clear payment visibility, so we can make smarter, faster decisions.”
Tom Krackeler, SVP Products at Zuora added: “The subscription model is the future, and GoCardless is helping accelerate that worldwide. Their smart approach to global debit payments is a major boost for the global economy.”
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