London-based company GoCardless, which offers small businesses the chance to accept online payments without the need for credit cards, has received USD3.3m in a Series A funding round. The investment has been led by existing backers Accel Partners and Passion Capital.
GoCardless, which launched in 2010, offers small traders and businesses an alternative to card transactions, by setting up a direct debit between a business and its clients. The company charges a 1% transaction fee, which, it claims, is cheaper than most credit card transactions. GoCardless says that it will use the money from this investment to help expand the company throughout Europe.
Barclays has signed contracts with six of the fintech startups that just graduated from its second New York accelerator programme.
Company card killer Pleo has raised $3m in new funding as it prepares for public launch in the UK and Denmark.
Cheques are become less and less common in the UK according to new research from global market research firm Mintel which claims contactless card use has overtaken cheque payments in the UK for the first time.
Payments for digital and physical goods made mobile operating system-based payments platforms like Apple Pay and Android Pay are expected to boom in the next few years according to new analysis from Juniper.