Announcing our $75m funding round to open up access to our global bank debit network
We’re incredibly excited to announce a new investment round of $75 million, led by new investors Adams Street Partners, GV (formerly Google Ventures) and Salesforce Ventures, as well as existing investors: Accel, Balderton Capital, Notion Capital and Passion Capital.
This Series E investment takes the total amount we’ve raised to $123 million and enables us to take the next steps on our mission to take the pain out of getting paid, so businesses can focus on what they do best.
A broken payments landscape
Over the last 10 years, we’ve seen the rise of the subscription economy and the boom of the business services sector.
We’ve seen more and more businesses develop long term relationships with customers, through subscription and instalment plans and through professional services agreements and retainers.
We estimate that around 18% of global payments are now recurring.
But while business models have moved on: payments haven’t.
The rise of bank to bank payments