GoCardless is expected to raise around £200 million at a valuation of over $1 billion thus vaulting the Fintech into the unicorn realm. This is according to a report in the Evening Standard. The payments firm last raised $95 million in a Series F funding round in December that valued the company just shy of one billion. This newest funding was said to be led by JP Morgan.
JP Morgan has recently stepped up its pace of investing in innovative financial services firms as it seeks to maintain relevance while hedging its traditional banking operations.
GoCardless is a global bank debit network, having focused on taking invoices, subscriptions, membership, and installment payments. The company currently handles over $2o billion a year with 60,000 businesses using its services. GoCardless is also active in the fast growing open banking sector.
According to the report, GoCardless may be queuing up for an initial public offering.
In general, the payments and transfer sector has become a hot segment of Fintech as antiquated payments rails are receiving an upgrade providing better/faster services.
GoCardless has integrated with over 200 of the top billing platforms, and is accepting direct transfers in 30 different countries including the USA, UK, Europe, Canada, Astralia and more.
