GoCardless Becomes Tech Unicorn The platform has secured a Series G funding of Australian $437 million, making it the latest European and UK tech Unicorn at a valuation of A$2.9 billion

By Shrabona Ghosh

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Pexels

GoCardless, a fintech company in direct bank payment solutions, has secured a Series G funding of Australian $437 million, making it the latest European and UK tech Unicorn at a valuation of A$2.9 billion.

The investment is led by Permira's Growth Opportunities fund, which brings significant experience in backing best-in-class payments and financial software businesses including Klarna, Clearwater Analytics and Carta. New investor BlackRock Private Equity Partners also joined the round. The funding will allow GoCardless to accelerate its growing footprint in the open banking space through product and geographical expansion.

In Australia, GoCardless is committed to having its platform ready for the regulated launch of PayTo in the middle of 2022, as part of a competitive strategy to market and provide a faster, cheaper and more secure alternative to credit cards. Merchants who use PayTo through GoCardless will also be able to access the company's global direct debit network, said a statement.

"We see PayTo as a true disruptor, an example of technology that will quickly scale and challenge the dominance of cards. Not only does it offer merchants instant account-to-account payments with greater protection against fraud and failed payments, PayTo also gives payers more control, visibility and security. We are excited to launch PayTo with our first customers, BizCover and Simply Energy and look forward to helping many others offer this powerful payment option to their clients," said Luke Fossett, director ANZ at GoCardless.

GoCardless processes more than $25 billion in transactions per year and serves over 70,000 businesses around the world, including DocuSign, Klarna, TripAdvisor and Epson, added the statement.

Shrabona Ghosh

Correspondent

A journalist with a cosmopolitan mindset. I lead a project called 'Corporate Innovations' wherein I cover corporates across verticals and try to tell stories on innovations. Apart from this, I write industry pieces on FMCGs, auto, aviation, 5G and defense. 
Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

News and Trends

TIEA Expands R&D, Manufacturing With INR 22 Cr From Jamwant, Valour, Others

Funds to support manufacturing expansion, R&D, and reduce reliance on imports

News and Trends

IIFL Fintech Fund Exits Finarkein Analytics With Over 2X Return in 3 Years

Launched in 2021, IIFL Fintech Fund has invested in 14 fintech startups including Leegality, FinBox, DataSutram, Finvu, Trendlyne, and Vitra.AI.

Business News

IBM Replaced Hundreds of HR Workers With AI, According to Its CEO

IBM CEO Arvind Krishna said the move led to more hiring in other areas.

News and Trends

How AI is Reshaping Work While Reinforcing the Need for Leadership, Empathy, and Creativity

The adoption of AI is not just a technological shift, it requires a cultural transformation—many organisations struggle with how to integrate AI tools while preserving human skills and creativity

News and Trends

JSW One Platforms Joins Unicorn Club with INR 340 Cr Raise to Power MSMEs

The company plans to build an integrated tech stack to enable a seamless procurement journey for over 500,000 construction and manufacturing MSMEs across India.