Total amount raised
$122.3 Million
Latest funding date
2/1/2019
Location
GoCardless has successfully raised funds over 11 rounds, with the latest funding coming from a "Venture - Series Unknown" round. The company is backed by 17 investors, including notable names like BlackRock Private Equity Partners and Permira.
Keep reading to explore the intricacies of GoCardless's fundraising journey and the investors backing this innovative platform.
What Is GoCardless?
GoCardless is a prominent player in the financial services and fintech industries, specializing in online payment processing. The company offers a bank-payment platform that helps businesses manage and collect payments from customers' bank accounts. Based in London, England, GoCardless has grown significantly and now employs between 501 and 1000 people.
Founded in London, GoCardless has been acquired by Mollie and has raised substantial funding over multiple rounds. The platform is known for its ease of use, cost savings, and automation capabilities, integrating with over 350 systems like Xero and QuickBooks. GoCardless aims to make better payment solutions accessible to businesses of all sizes.
How Much Funding Has GoCardless Raised?
- Seed Round
- Amount Raised: USD 1,500,000
- Date: February 2012
- Lead Investors: Accel, Passion Capital, Start Fund, SV Angel, Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and develop its initial product offering.
- Series A
- Amount Raised: USD 3,300,000
- Date: April 2013
- Lead Investors: Accel, Passion Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and scale the platform's capabilities.
- Series B
- Amount Raised: USD 7,000,000
- Date: January 2014
- Lead Investors: Balderton Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and enter new markets.
- Non-Equity Assistance
- Date: December 2014
- Lead Investors: Future Fifty
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To receive strategic support and resources for growth.
- Series C
- Amount Raised: USD 13,000,000
- Date: March 2016
- Lead Investors: Notion Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand internationally.
- Series D
- Amount Raised: USD 22,500,000
- Date: September 2017
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and increase market penetration.
- Series E
- Amount Raised: USD 75,000,000
- Date: February 2019
- Lead Investors: Adams Street Partners, Google Ventures, Salesforce Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product offerings.
- Series F
- Amount Raised: USD 95,000,000
- Date: December 2020
- Lead Investors: Bain Capital Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth in the open banking sector and develop new products.
- Series G
- Amount Raised: USD 312,000,000
- Date: February 2022
- Lead Investors: Permira
- Valuation at Round: USD 2.1 billion
- Motivation Behind the Round: To accelerate growth in open banking and expand globally.
- Series Unknown
- Date: July 2022
- Lead Investors: BlackRock Private Equity Partners, Permira
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and strategic initiatives.
Total Amount Raised: USD 529,300,000. Current Valuation: USD 2.1 billion.
Key Investors
- Permira
- Details: Permira is a global investment firm founded in 1985, advising funds with assets under management of approximately USD 65 billion. The firm has made around 300 private equity investments in sectors like Technology, Consumer, Services, and Healthcare.
- Investment Focus Areas: Technology, Consumer, Services, Healthcare
- Notable Investments: Klarna, Clearwater Analytics, Carta
- BlackRock Private Equity Partners
- Details: BlackRock Private Equity Partners is a division of BlackRock, a global investment management corporation. They specialize in private equity investments across various sectors.
- Investment Focus Areas: Private equity investments across various sectors
- Notable Investments: Not specifically mentioned
- Bain Capital Ventures
- Details: Bain Capital Ventures is the venture capital division of Bain Capital, a global private investment firm. They focus on early to growth-stage investments in technology companies.
- Investment Focus Areas: Technology, Healthcare, Financial Services
- Notable Investments: LinkedIn, DocuSign, Jet.com
- Accel
- Details: Accel is a venture capital firm that partners with exceptional founders with unique insights, from inception through all phases of growth. They have a global presence with offices in Palo Alto, London, and Bangalore.
- Investment Focus Areas: Technology, Consumer, Enterprise
- Notable Investments: Facebook, Dropbox, Slack
- Google Ventures
- Details: Google Ventures, also known as GV, is the venture capital investment arm of Alphabet Inc. They provide seed, venture, and growth-stage funding to technology companies.
- Investment Focus Areas: Technology, Life Sciences, Consumer Products
- Notable Investments: Uber, Nest, Slack
What's Next for GoCardless?
GoCardless stands at the cusp of significant growth opportunities, driven by its recent $312 million Series G funding round. This investment will enable the company to expand its footprint in the open banking space, develop new products, and enhance its global 'bank pay' network. With a valuation of $2.1 billion, GoCardless is well-positioned to capitalize on the increasing demand for secure, fast, and cost-effective payment solutions.
Future fundraising opportunities appear promising as the fintech market continues to grow. The company's strategic partnerships with major players like Klarna and PayPal further bolster its market position, making it an attractive prospect for additional investment. However, GoCardless will need to navigate regulatory challenges and intense competition to maintain its growth trajectory.
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