UK-based GoCardless has secured £16.6 million during its latest Series D funding round. According to Business Insider, the fintech company attracted funds from various investors, including Access Partners, Balderton Capital, Notion, and Passion Capital.
Founded in 2011, GoCardless describes itself as a next generation payments company that makes it “incredibly” cheap and easy for anyone to take payments online using its Direct Debit infrastructure. The company is sponsored by Royal Bank of Scotland (RBS) and is regulated by the FCA Financial Conduct Authority (FCA).
“Our industry-beating pricing (1% up to a maximum of £2), easy payment collection (we automate reconciliation into your accounts) and instant online sign-up mean that we are rapidly becoming the preferred online direct debit option for businesses.We are a rapidly-growing, highly technical team based in London. Combining years of financial services experience with a customer-driven approach, we are transforming online payments and the direct debit industry.”
Besides the funds, GoCardless has also announced it has formed a partnership with integrated accounting, payroll and payment systems company, Sage. The company noted that Sage customers can now link their existing accounting software directly with GoCardless, allowing them to get paid on time with Direct Debit while also providing automate reconciliation of payments. CEO of GoCardless, Hiroki Takeuchi, stated:
“In today’s fast-moving world, any way to streamline processes and increase efficiency can give companies a serious competitive advantage. Through this partnership with Sage, we look forward to helping thousands [of] more businesses save time and money, letting them focus on growing their business.”
Seamus Smith, EVP of Global Payments and Banking at Sage, added:
“Our partnership with GoCardless provides another great solution to help achieve our mission: making admin invisible for our customers. With the new integration, customers can easily access and set-up Direct Debit payments in their Sage software, giving them back valuable time to focus on growth. Combined with our e-invoicing and ‘Pay Now’ button functionality, Sage is uniquely positioned to help customers get paid faster in a way that suits their business.”