The guys who started UK payments company GoCardless are cashing out after agreeing to sell to Dutch competitor Mollie for around $920 million. CEO Hiroki Takeuchi and his co-founder, Tom Blomfield, who also helped launch Monzo, are looking at a serious payday from the deal, which will mostly be paid in stock rather than cash.
GoCardless has been processing over $130 billion in annual transactions for more than 100,000 businesses since launching back in 2011. The valuation is actually lower than what investors thought the company was worth a couple of years ago, when interest rates were still rock bottom, but it still counts as one of the bigger fintech exits Britain has seen lately.
Takeuchi is staying on after the acquisition wraps up and says this is about building something bigger rather than just bailing out. The combined company will serve over 350,000 businesses across Europe once regulators sign off on everything.
GoCardless has been processing over $130 billion in annual transactions for more than 100,000 businesses since launching back in 2011. The valuation is actually lower than what investors thought the company was worth a couple of years ago, when interest rates were still rock bottom, but it still counts as one of the bigger fintech exits Britain has seen lately.
Takeuchi is staying on after the acquisition wraps up and says this is about building something bigger rather than just bailing out. The combined company will serve over 350,000 businesses across Europe once regulators sign off on everything.
