Adams Street co-leads $75m series-E for GoCardless

Kenny Wastell
19 February 2019

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Adams Street Partners has led a $75m series-E funding round for UK-based transaction software company GoCardless, alongside Google's venture arm GV and Salesforce's venture arm Salesforce Ventures.

Previous investors Accel, Balderton Capital, Notion Capital and Passion Capital have also taken part in the round.

The latest series of funding will be used to finance a recruitment drive and international expansion, specifically via new offices and with the launch of its service in the US market.

Previous funding
Accel led a $1.5m seed funding round for GoCardless in 2012, alongside Passion and Y Combinator. In 2013, both VC firms invested a further $3.3m in the company's series-A.

Balderton then joined the previous investors for a $7m series-B in 2014, before all four VC firms invested in a Notion-led $13m series-C for the company two years later.

Most recently, Accel led a $22.5m series-D round for GoCardless in 2017, with Balderton, Notion and Passion also taking part.

Company
GoCardless was founded in 2011 and is headquartered in London. The company provides a platform designed to simplify the process of accepting recurring online direct debit payments for merchants. Its platform will be operational in 35 countries across Europe, North America and Australasia and across nine bank debit schemes by the end of 2019, according to a statement.

GoCardless said in a statement that it processes $10bn in transactions per year and has 40,000 merchant clients, up from $4bn and 30,000 respectively at the time of its series-D 17 months ago.

People
GoCardless – Hiroki Takeuchi (CEO).