Hiroki Takeuchi, co-founder and CEO of Gocardless.
Zed Jameson | Bloomberg | Getty images
Financial technology Unicorn Gocardless more than halved losses in 2024 and said that by 2026 it wants to reach the profitability of the entire year.
The London -based Startup, which helps companies to collect recurring payments such as subscriptions, reported a net loss of £ 35.1 million ($ 43.8 million) in the full year ending on June 30, 2024.
That was an improvement of 55% compared to the £ 78 million Gocardless lost the year before.
The company noted that at the end of the full year ending on June 2023, “restructuring activity” contributed to a reduction in operational losses in 2024. In June 2023, Gocardless announced that it reduced 15% of its global workforce. That cost Gocardless’ salary costs with 13% to £ 79.2 million in the tax year of the company 2024.
Although this improved the financial image of the company, Gocardless’ CEO Hiroki Takeuchi told CNBC that revenue growth also helped considerably.
“We are much more focused on the cost side … We want to be very efficient as we scale up,” said Takeuchi in an interview last week. “But we also have to continue to grow. We need both things to get where we want to be.”
Gocardless grew sales by 41% to £ 132 million in 2024 years. Of that total, £ 91.9 million came from customer income.
Last year, Gocardless also saw his very first month in win in March 2024. Takeuchi said it is his goal for Gocardless to publish his first win on the entire year in 12 to 18 months, so that it was added “good on the right track” To do this.
‘No plans’ for IPO
In September, Gocardless acquired a company called NaPay, which helps companies to collect and send payments via bank transfer.
Asked whether Gocardless in the future is considering further mergers and acquisitions, Takeuchi said that the company “looks active”, adding: “We see many opportunities coming up.”
After the Nuapay acquisition, Takeuchi said that Gocardless is currently a new function test with which customers can distribute funds to their own customers.
“If you take something like energy, the vast majority of payments are about collecting money,” he said CNBC.
“But then you might have some of your customers who have solar panels on their roof and they send energy back to the schedule, and they have to be paid for the energy they generate.”
Gocardless, supported by Alphabet’s Venture Arm GV, Accel and BlackRock, was last appreciated by investors in February 2022 by investors at $ 2.1 billion.
Takeuchi said that the company did not need external capital and that there are “no plans” for a first public offer in the short term.
Fintechs have viewed the plan of the Swedish fintech Klarna to accurately go close – but many wait to see how things are going before they decide on their own plans.
With IPOs from technology at historical lows, various startups have opted instead to offer employees and early shareholders liquidity by selling shares in the secondary market.
In November, Bloomberg reported That Gocardless Investment Bank had chosen Lazard to advise on a $ 200 million secondary stock sales. Gocardless refused to comment on the report.