This news comes on the heels of its Series G round. The company plans to use the funds to support product development and geographical expansion. Here are the top-line bullets you need to know.
GoCardless, an account-to-account payments platform, has raised $312M in a Series G. The round drew participation from BlackRock and Permira.
HOW’S THE COMPANY PERFORMING?
- UK-based GoCardless enables businesses to directly collect recurring and one-time payments from customers.
- It has established partnerships with 150 billing and subscription software companies, including Salesforce, Xero, Sage, Zuora, and QuickBooks.
- The platform caters to 70K businesses globally, processing over $30B in transactions annually across 30+ countries. Its client base includes TripAdvisor, DocuSign, Klarna, and Epson.
- GoCardless has grown its headcount by 85% since December 2020.
- It has offices in London, San Francisco, New York City, Paris, Munich, and Melbourne.
Source: GoCardless
WHY DOES THE MARKET MATTER?
- The global digital payment market is expected to reach a value of $361.3B by 2030, growing at a CAGR of 20.5%, according to Grand View Research.
- Payments startups raised a record $32.7B in funding in 2021 — a 124% increase year-over-year. Q4’21 saw $9.1B in funding, the third-highest quarter ever.
- The demand for contactless payment methods, including mobile wallets and contactless cards, has increased amid the pandemic.
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