Google-backed fintech GoCardless eyes Aussie ‘subscription economy’ – The Age

Australia’s fast-growing “subscription economy” is among the key markets being targeted by fintech firm GoCardless, which has secured more than $100 million to fund its global expansion plans.

GoCardless, based in London, on Monday said it had raised $US75 million ($106 million) from investors including Google’s venture capital arm, to roll out a global direct debit payment collection system, which it offers to business clients.

GV, formerly Google Ventures, is among the new investors to back GoCardless.

GV, formerly Google Ventures, is among the new investors to back GoCardless.Credit:AP

The company on Monday announced a series of new backers, including GV (previously known as Google Ventures, and owned by Google’s parent, Alphabet), Adams Street Partners, and Salesforce Ventures.

Director of international expansion Pranav Sood, who is visiting Australia, said the funding round meant the business had now raised more than $US120 million to bankroll its expansion of a debit payment system.

Autralia economy news

Leave a Reply

Your email address will not be published. Required fields are marked *