GoCardless company profile: valuation, funding & revenue

This GoCardless company profile covers the company's valuation, revenue, funding rounds, investors and history. GoCardless works in fintech, with a focus on bank payments. It was founded in 2011 and is headquartered in London, United Kingdom. Its latest valuation on record is US$2.1 billion (February 2022). Every figure links to a public source, and anything the company hasn't disclosed is marked as such.

Revenue

Funding history

GoCardless timeline

Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.

• 2011 — GoCardless is founded in London by Hiroki Takeuchi (CEO), Matt Robinson and Tom Blomfield.
• Feb 2022 — Series G: US$312M, valuing the company at US$2.1B. Investors: Permira (lead); BlackRock Private Equity Partners.
• February 2022 — Annual transaction volume: More than US$25 billion; more than 70,000 businesses (company-reported).

Investors

Overview

GoCardless helps businesses collect payments directly from customers' bank accounts rather than by card. It began by making Direct Debit, the system UK households use to pay utility bills and subscriptions, easy for businesses of any size to use online. It has since expanded to bank debit schemes in many countries and to open banking payments, where customers authorise instant bank transfers through their banking app. Businesses use GoCardless for recurring payments such as subscriptions, invoices and memberships, as well as one-off payments.

GoCardless was founded in London in 2011 by Hiroki Takeuchi, Matt Robinson and Tom Blomfield, who later co-founded Monzo. In February 2022 it raised a US$312 million Series G led by Permira, with BlackRock Private Equity Partners joining, at a US$2.1 billion valuation, according to Tech.eu. At the time it processed more than US$25 billion a year for more than 70,000 businesses. The valuation dates from 2022.

Products

• Recurring bank payments: Direct Debit and equivalent schemes in the UK, Eurozone (SEPA), US (ACH), Canada, Australia, New Zealand and elsewhere.
• Instant bank pay: open banking payments that move money immediately with customer authorisation.
• Bank account data: open banking data access, including from its 2022 acquisition of Nordigen.
• Success+ and Protect+: tools that retry failed payments and detect fraud.
• Integrations: connections to accounting, billing and subscription software.

Funding

GoCardless raised from Accel, Balderton Capital, Notion Capital, GV, Salesforce Ventures and Bain Capital Ventures among others. Its February 2022 Series G of US$312 million, led by Permira with BlackRock Private Equity Partners, more than doubled its valuation from its previous round in December 2020, to US$2.1 billion. The money was intended to expand open banking products and international reach.

Business model

GoCardless charges a fee per transaction, typically a small percentage plus a fixed fee, with caps for larger payments. Bank payments are usually cheaper for merchants than card payments, which is a key selling point. Additional products such as payment retries and fraud tools carry extra fees. Partnerships with accounting and billing platforms bring in many small business customers.

Competition

GoCardless competes with card payment providers such as Stripe and Adyen, which also offer bank debits; with open banking providers such as TrueLayer, Tink (owned by Visa) and Plaid; with banks' own collection services; and with billing platforms. In Europe, Mollie and others offer payment methods to merchants. Its strength is its deep focus on bank payments and recurring collections.

GoCardless at a glance

GoCardless is a London bank payments company founded in 2011 by Hiroki Takeuchi, Matt Robinson and Tom Blomfield. It lets businesses collect recurring and one-off payments directly from bank accounts in many countries, using Direct Debit and open banking. It raised a US$312 million Series G led by Permira at a US$2.1 billion valuation in February 2022.

Timeline

• 2011: founded in London; joins Y Combinator.
• 2014–2019: expands Direct Debit across Europe and adds international schemes.
• 2020: raises funding to expand internationally.
• February 2022: raises US$312 million at US$2.1 billion.
• 2022: acquires Nordigen, an open banking data provider.
• 2023–2026: expands instant bank payments and fraud tools.

Why bank payments matter

Cards dominate consumer payments in many countries, but they have drawbacks for recurring payments: cards expire, get lost or are replaced, causing failed payments and churn. Card fees can also be high for businesses with large or frequent transactions. Bank payments are tied to accounts that rarely change, have lower failure rates for recurring billing and are usually cheaper. For businesses selling subscriptions, memberships or business-to-business invoices, these advantages add up.

Open banking

Open banking regulations in the UK and EU require banks to let customers share account data and initiate payments through authorised third parties. This enables instant bank payments authorised in a banking app, combining the convenience of card payments with the lower cost of bank transfers. Adoption has grown steadily, particularly for bill payments, account funding and e-commerce. GoCardless combines open banking with traditional debit schemes, for example by using an instant payment for a first charge and Direct Debit for later ones.

Who funds GoCardless

GoCardless's investors include Permira, BlackRock Private Equity Partners, Accel, Balderton Capital, Notion Capital, Salesforce Ventures, GV and Bain Capital Ventures.

Who uses GoCardless

GoCardless's customers range from small businesses and gyms to large utilities, software companies, insurers and charities.

Valuation context

Our guides to the largest UK startups, payments companies and the largest private fintech companies compare GoCardless with peers.

Risks

• Dated valuation: the last priced round dates from 2022.
• Competition: large payment processors bundle bank payments with cards.
• Fraud: instant payments can be targeted by scams, and rules on reimbursement are evolving.
• Adoption pace: open banking payments must win consumer habits from cards.

Questions for businesses

• Which countries and bank schemes do your customers use?
• How do fees compare with your current card processing costs?
• How does it handle failed payments and retries?
• Which billing or accounting tools does it integrate with?

A subscription example

A software company selling annual subscriptions to small businesses in the UK and Europe used to collect by card. Each year, a share of renewals failed because cards had expired, and card fees on large annual payments were significant. By switching to GoCardless, it collects renewals by bank debit, with an open banking payment for the first charge. Failed payments drop, fees fall, and the finance team spends less time chasing invoices. Integration with its billing software means customers set up payment once and renewals happen automatically.

Variable recurring payments

In the UK, regulators and the banking industry have been developing variable recurring payments, which let customers authorise ongoing open banking payments within set limits. These could combine the flexibility of card-on-file payments with the lower cost and reliability of bank payments. GoCardless has been active in this area, and wider adoption could significantly expand the use of bank payments for subscriptions and e-commerce.

Latest developments (October 2026)

GoCardless has been acquired by Mollie. Dutch payments company Mollie completed its acquisition of GoCardless on 1 September 2026, a deal first agreed in December 2025, according to FinTech Global and Crowdfund Insider. GoCardless now operates as "GoCardless, a Mollie company" under co-founder Hiroki Takeuchi, and the combined group serves more than 350,000 businesses in over 30 markets. One report put the deal at about €1.05 billion to €1.1 billion, paid mostly in shares. GoCardless had recorded its first EBITDA-positive quarter in 2025. Because it is no longer independent, we no longer include GoCardless in our private company rankings.

What to watch

Watch for new funding or IPO plans, open banking adoption, US expansion and profitability.

Takeaways

Businesses can lower costs and failed payments with bank payments. Founders can see how modernising old infrastructure can build a large company. Investors should treat the 2022 valuation as dated.

Sources

Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.

1. Tech.eu