The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

GoCardless and Nuapay say open banking will transform payments

Open banking is making direct bank-to-bank customer payment transfers easier in the ecommerce world and is set to reduce the role of credit cards.


We need a word for a fintech company that is worth close to $1 billion but is not quite there yet: a nearicorn, perhaps.

GoCardless, the UK-headquartered global payments company that enables recurring customer payments for 55,000 large and small companies in 30 countries, has just become one.

On Thursday, it announced it has raised $95 million in a series F funding round led by Bain Capital Ventures. That brings to $240 million the amount the company has raised since Hiroki Takeuchi and Matt Robinson founded it in 2011 – and it establishes a valuation for GoCardless of $970 million.

The company has built a network connecting domestic bank-to-bank payments systems – such as Bacs in the UK and ACH in the US – that now covers more than 30 countries.

It has layered on top of this a developer technology platform that allows merchants to integrate their billing systems through its APIs and accounting software providers to integrate invoice management.

The result is that businesses can pull regular payments directly from customers’ bank accounts when due, without requiring those customers to repeatedly fill in credit card details or do anything else to send them.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree