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.

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