London FinTech firm GoCardless raises additional $22.5m


London-based FinTech firm GoCardless has received an additional $22.5m (£16.6m) from existing investors Accel, Balderton, Notion and Passion Capital.

It comes after the company raised $13m (£9.6m) in a Series C  round led by Notion Capital last March.

GoCardless has built a proprietary tech platform with the sole purpose of facilitating the way in which recurring payments are collected.

Hiroki Takeuchi, CEO and founder, commented on the news: “As more and more businesses become international, they face endless frustrations in managing payments across multiple territories.

“What we have engineered is a way to simply plug recurring payments into their existing systems, across the world, so they can focus on the challenges that really matter.

Martin Gibson from Accel, who led the round, said: “We look for businesses solving real problems and using tech to make cumbersome processes scalable. GoCardless has already demonstrated tremendous growth in this area, and recent hires at the senior level show it is building the business to own this sector.”

“To see GoCardless with such a head start on this mission, yet still pushing to accelerate faster, is exactly what we look for in our founders,” he added. 

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