GoCardless cuts losses by 55%, aims for profitability by 2026

From CNBC: 2025-02-03 04:26:06

Financial technology unicorn GoCardless significantly reduced its losses in 2024, aiming for profitability by 2026. The London-based startup reported a net loss of £35.1 million, a 55% improvement from the previous year. CEO Hiroki Takeuchi highlighted revenue growth and cost efficiency as key factors in the company’s progress.

In addition to restructuring activities and workforce reductions, GoCardless grew revenue by 41% to £132 million in 2024. Takeuchi mentioned plans for the company to achieve its first full-year profit in the next 12 to 18 months. GoCardless acquired Nuapay in September and is actively exploring further mergers and acquisitions.

Despite being backed by prominent investors like Alphabet’s GV, Accel, and BlackRock, GoCardless stated that there are currently “no plans” for an initial public offering. The company’s focus remains on growth and efficiency, with the aim of reaching financial stability in the near future. Fintechs, including GoCardless, are closely monitoring Klarna’s IPO to gauge market conditions.

Read more: Fintech GoCardless halves loss, targets full-year profit by 2026