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Total amount raised
$526M
Latest funding date
2022-02-08
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.
GoCardless has raised a total of at least $525.8M in disclosed funding across eight equity rounds — backed by more than 15 investors including Permira, BlackRock Private Equity Partners, Accel, Bain Capital Ventures, and Balderton Capital.
Keep reading to explore GoCardless's full fundraising journey, its key backers, and what may lie ahead for this open banking leader.
What Is GoCardless?
GoCardless is a London-based fintech company founded in 2011 that specialises in bank payment solutions, enabling businesses to collect and manage payments directly from customers' bank accounts. The company combines direct debit infrastructure with open banking capabilities — allowing merchants to automate recurring payments and facilitate one-off bank-to-bank transactions at scale. GoCardless processes payments for more than 100,000 merchants globally and was valued at $2.1 billion following its Series G round in 2022.
How Much Funding Has GoCardless Raised?
- Seed Round
- Amount Raised: USD 1,500,000
- Date: February 2012
- Lead Investors: Accel, Passion Capital, SV Angel, Y Combinator
- Participants: Start Fund
- Series A
- Amount Raised: USD 3,300,000
- Date: April 2013
- Lead Investors: Accel, Passion Capital
- Series B
- Amount Raised: USD 7,000,000
- Date: January 2014
- Lead Investors: Balderton Capital
- Participants: Accel, Passion Capital
- Series C
- Amount Raised: USD 13,000,000
- Date: March 2016
- Lead Investors: Notion Capital
- Participants: Balderton Capital, Accel, Passion Capital
- Series D
- Amount Raised: USD 22,500,000
- Date: September 2017
- Lead Investors: Accel
- Participants: Balderton Capital, Notion Capital, Passion Capital
- Series E
- Amount Raised: USD 75,000,000
- Date: February 2019
- Lead Investors: Adams Street Partners, GV (Google Ventures), Salesforce Ventures
- Participants: Accel, Balderton Capital, Notion Capital, Passion Capital
- Series F
- Amount Raised: USD 95,000,000
- Date: December 2020
- Lead Investors: Bain Capital Ventures
- Participants: Nyca Partners
- Series G
- Amount Raised: USD 312,000,000
- Date: February 8, 2022
- Lead Investors: Permira
- Participants: BlackRock Private Equity Partners
- Valuation: USD 2.1 billion
Total Amount Raised: at least $525.8M based on disclosed funding (some early-stage round amounts and one 2022 follow-on round are undisclosed).
Key Investors
- Permira
- Details: Permira is a global private equity and investment firm founded in 1985. It led GoCardless's Series G round in February 2022 and has continued as a key investor in the company.
- BlackRock Private Equity Partners
- Details: The private equity arm of global asset manager BlackRock. Participated in the Series G round and continued to invest in GoCardless in a follow-on round in 2022.
- Bain Capital Ventures
- Details: The venture capital arm of Bain Capital, focused on fintech and software investments. Led GoCardless's Series F round in December 2020.
- Accel
- Details: A leading global venture capital firm and one of GoCardless's earliest and most consistent backers, participating from the Seed round through Series D, where it served as lead investor.
- Balderton Capital
- Details: A London-based venture capital firm focused on European technology startups. Led GoCardless's Series B round in January 2014 and participated in subsequent rounds.
- GV (Google Ventures)
- Details: The venture capital arm of Alphabet. Co-led GoCardless's $75M Series E round in February 2019.
- Adams Street Partners
- Details: A global private markets investment firm that co-led the Series E round alongside GV and Salesforce Ventures.
- Salesforce Ventures
- Details: The corporate venture arm of Salesforce. Co-led GoCardless's Series E round in February 2019.
- Notion Capital
- Details: A London-based venture capital firm specialising in European B2B SaaS and cloud companies. Led GoCardless's Series C round in March 2016.
- Passion Capital
- Details: An early-stage UK venture capital firm. One of GoCardless's earliest investors, backing the company from its Seed round through the Series E.
What's Next for GoCardless?
GoCardless is positioned to continue its global expansion in the open banking space, leveraging its $2.1 billion valuation and substantial institutional backing. The company aims to deepen its open banking product offerings across new geographies, combining its established recurring payments infrastructure with real-time bank-to-bank payment capabilities. With profitability achieved in FY2024 and revenues growing 38% year-on-year to £127M, GoCardless is scaling sustainably and exploring potential strategic partnerships or acquisitions to accelerate its mission of making bank payments the preferred method for businesses worldwide.
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