The fintech industry continues to rise in 2022, and several companies are achieving unicorn status: the latest version of this: GoCardless. News reported as direct payment fintech banks secured Series G $ 323 million, bringing GoCardless value to $ 2.1 billion.
The fund is managed by Permira, which brings valuable experience in supporting best-in-class payment and software businesses including Klarna, Clearwater Analytics, and Carta. New investor BlackRock Private Equity Partners has also joined the rotation. This investment will allow GoCardless to accelerate growth in an open banking environment through product and expansion as it aims to become the world’s leading direct banking network.
GoCardless generates more than $ 25 billion in sales annually and operates more than 70,000 businesses worldwide, including DocuSign, Klarna, Tripadvisor, and Epson. Since it last made money in December 2020, the value of the company has doubled, while the value has grown by 85 percent. GoCardless has accelerated its investment in opening a banking product and launched Instant Bank Pay, a new way to collect one-time bank-to-bank payments using open banking. Since then, it has helped thousands of retailers in the UK and Europe arrange millions of dollars in single payments.
Klarna recently chose GoCardless to offer bank payments to its more than 21 million customers in the United States, promoting GoCardless’s expertise in bill-to-account accounting as it grows in the marketplace. In addition, PayPal and GoCardless have signed an agreement that will see GoCardless go directly to PayPal’s affiliate bank. PayPal merchants will soon be able to offer their customers additional payment banking options, as customers are increasingly looking for options at the exit.
Hiroki Takeuchi, co-founder, and CEO of GoCardless said: “The rise of open banking offers a unique chance that will revolutionize payment systems that are happening all over the world. , deadlines or additional fees. I look forward to working with them and our new board members to quickly advance the future of GoCardless. “
Alberto Riva, Chief of Permira, added, “We thank GoCardless for being the world’s leading accounting and credit card operator. We are excited to support Hiroki and his excellent team to continue to improve and provide high-quality solutions that are an affordable, fast, and secure way to collect revenue globally
With the rotation, GoCardless will add additional technology and payment capabilities to the Board of Directors with Michael Rouse, a former Chief Business Officer at Clara joining, and Koen Köppen, Chief Technology Officer at Clara and Mollie’s Board Member joining as an independent director.
As GoCardless builds on its ten-year experience in direct bank payments, the company will increase its focus to be able to pay recurring and one-time payments and continue its expansion. It will also open its ‘bank payment’ network to other payment service providers who want to invest in its technology and platform.