Press Release: The Guardian and Funding Circle sign up for GoCardless Pro
By Charlotte RobinsonOct 20142 min read
Having opened up the world of Direct Debit to thousands of SMEs from across the UK, GoCardless has today announced their enterprise product, GoCardless Pro. The new product is specifically designed for larger businesses and will allow them to take recurring payments with ease. The Guardian has signed up as an early user of the service.
GoCardless, the payments company simplifying online Direct Debit, is today announcing the public launch of GoCardless Pro, an exciting new product that will revolutionize Direct Debit for large companies.
Since launching in 2012, the UK tech start-up has quickly grown to serve over 5,000 SMEs, collecting more than £500 million per year with 600% year-on-year growth.
Costing 60% less than credit card based solutions, GoCardless' existing SME product is a clear market leader for ease of access, flexibility and simplicity. The latest release is designed for larger enterprises, combining the simplicity of the original product with complete control over payments and customer experience and brings it directly into competition with traditional bureaus like Bottomline.
According to Hiroki Takeuchi, the CEO of GoCardless, “With GoCardless Pro, we’re aiming to serve even larger businesses. We've designed a solution to give the UK’s largest businesses much more control over the payment and customer experience.”
Until now, companies wishing to collect by Direct Debit have been forced to use clunky software which requires them to staff whole departments to manage these collections. GoCardless Pro will allow them to automate these operations using the GoCardless API, reducing operational complexity and cost, whilst improving customer experience.
Existing customers include innovative companies like Funding Circle, the leading marketplace for business loans, whose CEO Samir Desai said: “We moved to GoCardless as collections can be managed by one person instead of a whole department. It's great to work with another financial technology company who are committed to helping businesses.”
An early customer for GoCardless Pro is The Guardian. Their Director of Consumer Revenues Julia Porter explains that, "The Guardian is always looking to give the best customer experience and has chosen GoCardless to make its recurring payment experience as seamless as possible."
GoCardless raised $7 million in a round lead by Balderton Capital earlier this year in order to target enterprise customers and this is the first of a few major releases designed to shake up the space. With organisations like the Guardian already signed up it seems to be working.
GoCardless enables businesses to control their payments, not be controlled by them. It is a simple service for collecting Direct Debit payments online. Direct Debit is the best way to take recurring payments in Europe, with lower failure rates, lower fees and increased flexibility vs cards.
The company launched in 2012 and now serves over 5,000 UK SMEs collecting half a billion pounds per year. It has raised $12m investment from Balderton Capital, Accel Partners, Passion Capital and YCombinator.
See here for more information.