GoCardless revenues up 38% in FY24, with nearly £40bn processed in payments

LONDON, 3 February, 2025 -- Bank payment company GoCardless has published its Companies House filing for fiscal year 2024 (FY24), indicating strong growth in all markets. 

The accounts, covering 1 July 2023 to 30 June 2024, show that GoCardless Ltd. and its subsidiaries (“the Group”) generated £126.8m in revenue, a 38% increase year-on-year, bringing total income to £132.8m including interest income and revenues from other subsidiaries.

Growth in all markets

International revenues continued to grow increasing by 47% to £30.8m in FY24, compared to £21.0m in FY23.

In particular, revenues in Europe and North America increased by roughly 50% in each market. International now accounts for 24% of total revenues, a 1% increase year-on-year.  

Revenue in the UK & Ireland grew by 35% over the same period to £96.0m, fuelled by new signings and renewals with customers like Topps Tiles and JustGiving. GoCardless also hit key milestones in open banking, including becoming an approved open banking supplier to central and local governments.

Globally, GoCardless expanded its indirect channels, extending strategic relationships with key partners including Xero, Sage and Quickbooks, as well as signing new partners like Celigo. The company also saw success with GoCardless Embed -- its white-labelled solution that allows payment service providers to integrate GoCardless’ global bank payment network into their platform through a single API -- with new customers Ecommpay and UNIPaaS.

In the year ending 30 June 2024, the Group and its sister company, GoCardless, Inc. processed £39.6 billion worth of transactions, a rise of 28% year-on-year, for over 94,000 organisations globally.

Path to profitability

In the last quarter of the previous financial year (FY23) GoCardless undertook a series of cost-cutting measures to accelerate the fintech’s path to profitability. These measures, combined with revenue growth, contributed to a reduction of £43.6m in operating loss in FY24 before depreciation and amortisation.  

Overall, the Group saw net losses decrease 55% year-on-year, down from £78.0m in the year prior to £35.1m for FY24.

Continued momentum 

In the first of FY25, GoCardless has, among other milestones:

• added Airwallex to its roster of GoCardless Embed customers

• launched the GoCardless for Salesforce app on the Salesforce AppExchange

• collaborated with Total Grassroots and kit manufacturer Kelme to simplify payments for grassroots sports clubs

Notably, in September 2024 GoCardless completed its acquisition of Sentenial Ltd, operating under the Nuapay brand, from EML Payments Limited. This will significantly scale the fintech’s indirect channel proposition and fast-track the rollout of new capabilities that will enable customers to send as well as collect money through GoCardless.

Hiroki Takeuchi, co-founder and CEO of GoCardless, said: “The FY24 results show strong revenue growth and a sustainable cost base, both of which point to a clear path to profitability. To post these kind of numbers in a tough macroeconomic environment is not easy and I’m incredibly proud of what the team has achieved.

“I’m excited about the opportunities ahead as we push into FY25 and beyond. We’re continuing to see the results of our increased focus on international markets and our indirect channels. Our data services remain popular with customers, from helping them prevent fraud and improve conversion rates to powering essential business operations through open banking data. And with the integration of Nuapay providing the capability to send as well as collect payments, we’re well on our way to becoming a full-service bank payment provider.”

NOTES TO EDS.

For more information contact press@gocardless.com.

All figures in the Companies House filing relate to GoCardless’ fiscal year 2024, covering the period from 1 July 2023 to 30 June 2024.

The filing covers GoCardless Ltd. and its subsidiaries. It does not include GoCardless Inc. and GoCardless SIA.

About GoCardless

GoCardless is a global bank payment company. Nearly 100,000 businesses, from start-ups to household names, use GoCardless to collect and send payments through direct debit, real-time payments and open banking.

GoCardless processes US$130bn+ of payments annually across 30+ countries; helping customers collect and send both recurring and one-off payments, without the chasing, stress or expensive fees. We use data and insights to improve payment success, reduce fraud and, with open banking connectivity to over 2,500 banks, help our customers make faster, more informed decisions.

We are headquartered in the UK, with additional offices in Australia, France, Ireland, Latvia and the United States. For more information, please visit www.gocardless.com and follow us on LinkedIn @GoCardless.

© 2025 GoCardless Ltd. All Rights Reserved. GoCardless is a registered trademark of GoCardless Ltd in multiple countries. Third party trademarks mentioned above are owned by their respective companies. Unless explicitly identified as such, nothing in this press release should be construed to the contrary, or as an approval, endorsement or sponsorship by any third parties of GoCardless Ltd. or any aspect of this press release.