GoCardless

GoCardless
Private
Industry Financial Technology
Founded January 2011 (2011-01) in London, England
Founders Tom Blomfield, Matt Robinson and Hiroki Takeuchi
Headquarters London, England
Number of locations
 1
Area served
 United Kingdom, Sweden, Eurozone
Key people
 Hiroki Takeuchi CEO, Harry Marr CTO
Revenue Increase USD $1 billion (2015)
Number of employees
 100
Website gocardless.com

GoCardless is a UK Online Direct Debit provider founded in January 2011. The company was funded by Y Combinator in the summer of 2011.[1] As of July 2015, GoCardless were handling $1bn worth of transactions per year.[2]

History

GoCardless was founded by Tom Blomfield, Matt Robinson and Hiroki Takeuchi after they had met at Oxford University. Hiroki and Matt had previously worked together at McKinsey.[3] The project started out as an attempt to facilitate Group Payments by making it easier for groups of friends and small organisations to make payments between each other. At the time the business was called GroupPay. After settling on Direct Debit as the best means to achieve this, the three realised that they had built a product with significant enterprise demand, and the business pivoted to become GoCardless.

The three were accepted into Y Combinator's summer batch in 2011, and shortly thereafter secured $1.5m investment from Accel Partners and Passion Capital. This was followed by a further $3.3m in April 2013[4] from their existing investors, and in January 2014 they secured a further $7m funding round from Balderton Capital.[5] After Y Combinator they moved back to London due to its strength in the FinTech sector[3] and their desire to focus on the European market where direct debit payments are much more common.

References

External links

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