London-based fintech startup GoCardless has announced that it has raised $22.5 million (£16.6 million) in funding from investors including Accel Partners.
The company helps businesses to process recurring payments around the world, and it uses an international network to process payments in the UK, the Eurozone, and Sweden.
GoCardless cofounder Hiroki Takeuchi has now returned to his role as CEO following a serious bicycle accident in September.
The accident left Takeuchi unable to use his legs, and he has spoken candidly about his recovery in an interview with the WNYC podcast “Death, Sex & Money” as well as in an interview with TechCrunch published on Monday.
The new investment in the business comes from Accel Partners, Balderton Capital, Notion, and Passion Capital. The Series D funding round brings the total amount raised by the startup to $47.3 million (£34.9 million).
GoCardless said in a press release for the announcement that the business processes $4 billion (£2.9 billion) in annual transactions for over 30,000 businesses.