GoCardless receives USD 95 mln to expand open banking service

Friday 17 December 2021 10:03 CET | News

The A2A payments provider GoCardless has announced a new funding of USD 95 million in Series F funding to further expand its service platform.

With the latest capital infusion, the UK-based fintech will soon reach its unicorn status, being valued at little under USD 1 billion. 

According to GoCardless representatives, the latest money will be used to speed up the open banking strategy by combining the previously built global bank debit payments network with open banking bank-to-bank payments. 

Moreover, the company is also looking to expand its services in an adjacent ecommerce market by launching a secure and simple way of handling bank-to-bank payments with lower cots than regular cards. 

GoCardless has been known for pitching direct debits as a better payment alternative for regular B2B and subscription commerce payments and, by introducing bank-to-bank payments as a service available on its platform, it continues to push against the card network royalties like Amex, Visa, and Mastercard.

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Keywords: funding, Open Banking, Open Banking Ecosystem, B2B payments, ecommerce, GoCardless
Categories: Payments & Commerce
Countries: World
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