GoCardless nears Unicorn status on $95 million funding round. „Now it’s time to bring open banking to the world of recurring payments.”

18 decembrie 2020

GoCardless, a processor of recurring debit payments for more than 55,000 businesses worldwide, has raised $95 million in a Series F funding round.

The latest fundraise, led by Bain Capital Ventures, follows 46% year-on-year growth for GoCardless, which each year processes $18bn+ of payments across more than 30 countries. It brings the total raised to-date to $240m and takes the firm’s valuation to $970 million, according to finextra.com.

Hiroki Takeuchi, CEO and co-founder of GoCardless said:

At GoCardless, we’ve always believed that bank-to-bank methods are the best way to collect recurring payments. We’ve built the world’s first global network for recurring payments from the ground up using bank debit, making it easy for merchants to get paid by pulling funds directly from the bank accounts of customers across 30+ countries. But bank debits aren’t the only type of bank-to-bank payments. We’ve never seen ourselves as “just” a bank debit company.

We’ve been tracking the development and launch of open banking initiatives around the world from the beginning. And we’ve been getting directly involved. For example, we collected the first ever live Variable Recurring Payments with Open Banking in the UK back in 2019. 

However, like almost all trends in the world of payments, it’s taken time for this new technology to develop and gain traction. We’ve waited until we felt we could reach the highest standard of user experience in the products we offer our customers. Now it’s time to bring open banking to the world of recurring payments.

This funding will accelerate our open banking strategy, combining bank debit with open banking for the ultimate recurring payments experience. Our existing customers will see large and small changes to the product over time. One of the more dramatic changes will be to speed up cash flow for the first payment in a recurring relationship – cutting anywhere from one to five or more days off the wait to get paid for the first time.

We’re also excited that the combination of bank debit and open banking makes bank-to-bank a powerful alternative to cards in a much wider range of situations. Validating the bank account data or collecting an initial payment through open banking takes away uncertainty and risk, which often prevents bank debit being used to buy from online marketplaces or order taxis. In these situations, GoCardless will represent a low-cost alternative to cards that also offers significantly lower payment failures and churn.

I’ve always believed that payments were broken, and we’ve come a long way in fixing recurring payments for our customers. When you combine what we’ve already built with the potential of open banking, I couldn’t be more excited about how we’re going to change payments for the better.

We’ve raised $95million to accelerate our investment in open banking | GoCardless | GoCardless

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Gabriela Nistor – director general adjunct BT

Tendinţele pe care le-am remarcat înainte de începerea pandemiei s-au accelerat pe perioada stării de urgenţă. Am văzut acest lucru ca o oportunitate, un tipping point pentru bancă. Post-pandemie nu avem cum sa ne întoarcem la comportamentul financiar pe care îl aveam până în februarie a.c. Relaţia românilor cu online-ul s-a schimbat. In plus, cardul fizic se va dematerializa. Vom asista la o scădere a cererii pentru cardurile fizice, respectiv la o creştere a preferinţei pentru componenta digitală a acestora.”

Sondaj

In 23 septembrie 2019, BNR a anuntat infiintarea unui Fintech Innovation Hub pentru a sustine inovatia in domeniul serviciilor financiare si de plata. In acest sens, care credeti ca ar trebui sa fie urmatorul pas al bancii centrale?