Cashless payment firm GoCardless secures $75mn in series E funding

Global leader in recurring payments, GoCardless, has just secured $75mn from investors in its series E funding round.

The business aims to open up access to the world’s first global debit network, enabling businesses to take recurring payments via automatic bank debit in any given currency. Currently, over 40,000 businesses transact through GoCardless each month, with the business processing $10bn payments every year.

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The company intends to cover 70% of the world’s recurring payments volume by the end of this year, with operations spanning across North America, Europe and Asia Pacific.

The latest investment will not only go into expanding the platform but also launching innovations, and affording businesses easier access to cross border payment services.

Hiroki Takeuchi, CEO of GoCardless, stated: “The way businesses collect recurring payments is broken. Using systems that are unfit for purpose is killing businesses. A global network for bank debit is an absolute necessity in allowing businesses to easily collect recurring payments anywhere, in any currency.

“Thanks to the support of our investors we can now open up our global network and payments platform to more businesses across the world and deliver on our mission to take the pain out of getting paid, so that businesses can focus on what they do best.”