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 it’s aiming to reach full-year profitability by 2026.
The London-based startup, which helps businesses collect recurring payments such as subscriptions, reported a net loss of £35.1 million ($43.8 million) in the full year ending June 30, 2024.
That was a 55% improvement from the £78 million GoCardless lost the year prior.
The firm noted that “restructuring activity” at the end of the full year ending June 2023 contributed to a reduction in operating losses in 2024. In June 2023, GoCardless announced it was cutting 15% of its global workforce. That took GoCardless’ salary expenses down 13% to £79.2 million in the company’s 2024 fiscal year.
Still, while this improved the company’s financial picture, GoCardless’ CEO Hiroki Takeuchi told CNBC that revenue growth also helped significantly.
“We’re much more focused on the cost side … We want to be getting very efficient as we scale,” Takeuchi said in an interview last week. “But we also need to continue growing. We need both of those things to get to where we want to be.”
GoCardless grew revenue by 41% to £132 million in full-year 2024. Of that total, £91.9 million came from customer revenue.
Last year also saw GoCardless record its first-ever month in profit in March 2024. Takeuchi said its his aim for GoCardless to post its first full-year profit in 12 to 18 months’ time, adding it’s “well on track” to do so.
‘No plans’ to IPO
Back in September, GoCardless acquired a firm called Nuapay, which helps businesses collect and send payments via bank transfer.
Asked whether GoCardless is considering further mergers and acquisitions in future, Takeuchi said the firm is “actively looking,” adding: “We’re seeing lots of opportunities come up.”
Following its acquisition of Nuapay, Takeuchi said GoCardless is currently testing a new feature that allows clients to distribute funds to their own customers.
“If you take something like energy, the vast majority of the payments are about collecting money,” he told CNBC.
“But then you might have some of your customers that have solar panels on their roof and they’re sending energy back to the grid, and they need to get paid for that energy that they’re generating.”
GoCardless, which is backed by Alphabet’s venture arm GV, Accel and BlackRock, was last privately valued by investors at $2.1 billion in February 2022.
Takeuchi said the firm had no need for external capital and that there are “no plans” for an initial public offering in the near term.
With technology IPOs at historic lows, several startups have instead opted to provide employees and early shareholders liquidity by selling shares in the secondary market.
In November, Bloomberg reported that GoCardless had chosen investment bank Lazard to advise it on a $200 million secondary share sale. GoCardless declined to comment on the report.
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Camping is a fun summer activity. What’s not fun is having no access to electricity. You can’t charge your phone, watch TV, or make your morning cup of coffee. Thankfully, portable power stations allow you to do all that and more. It’s literally like bringing along a giant battery for all of your electronics. Portable power stations are also good to have around your home in case of power outages.
There’s just the problem of price. Portable power stations are notoriously expensive, especially ones that have a larger energy storage capacity. The good news is that we were able to find a solid deal on a 1,056-watt-hour (or 1 kilowatt-hour) power station. This $800 Anker Solix C1000 Portable Power Station is $550 at Amazon for a limited time. At 31% off, you’re saving $250.
Anker Solix C1000 Portable Power Station, $550 (was $800) at Amazon
The Anker Solix C1000 features a power output of 1,800 watts, making it strong enough to handle multiple electronics and small appliances at once. It has 11total power ports. You get two USB-A and USB-C ports, a car socket, and six AC outlets. Additionally, it also functions as a night light and has a handle for easy carrying. It weighs about 28 pounds.
Now let’s talk about charging. There are two ways you can charge the Anker Solix C1000. The first way is just by plugging it into a standard AC wall outlet. Or if you have the portable solar panels (sold separately), you simply connect the wires and place the panels in the sun. When plugged into an AC outlet, your power station can be fully charged in about an hour. If you charge up with solar, it’ll likely take around two hours. The digital display on the front of the power station shows you the battery and charging status.
Shoppers have found multiple uses for this portable power station. “We bought it mainly for short power outages and to run our refrigerator, but it will have many other uses for sure,” one shopper said. “Just this past week, I had to do some repairs to our floating dock, and there is no extension cord long enough to reach, so I brought this Anker Solix C1000 and it powered our two saws and drills without any issue at all. It’s very cool and has lots of different outlets. Very impressive unit!”
Others say they get daily use out of it. “I love it. I use it every day. I am traveling and camping everywhere,” one shopper shared. “I use it to power a car mobile refrigerator, a little portable air conditioner, and of course, my iPhone and other electronics, and sometimes an electric stove. It can take on all tasks with no problem. I love the mobile design and durability.”
You don’t need to be ‘roughing it’ the next time you go camping. Consider grabbing the Anker Solix C1000 Portable Power Station to keep all your devices charged and bring along a few essentials for the kitchen or living room. You’ll feel like you never left home.
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Time is the most valuable thing any of us has. Therefore, why not keep track of it in the most accurate and stylish way possible, relishing every second? Amazon can help you do that with its incredible selection of high-end watches. One of them, from Citizen, is currently available for half off, and we think it ticks all the boxes.
The Citizen Calandrier Eco-Drive Watch is on sale for $260 right now, which is 50% off the regular price of $525. Not only does this watch give you the time, but it even tells you the day and the date.
Citizen Calandrier Eco-Drive Watch, $260 (was $625) at Amazon
While a watch that tells the time is useful, one that does that and lets you know exactly what day and date it is can keep you on schedule better than you might imagine. In addition to the time, day, and date functions, this watch has a 24-hour tracker and world time function, so you can know what time it is anywhere in the world.
With a stainless steel case and bracelet, the timepiece oozes elegance and durability. Its blue dial is highly legible and attractive, and is sure to get you plenty of compliments. It also has a scratch-resistant mineral crystal and 100 meters of water resistance. The Japan-made quartz movement inside operates off of solar energy, provided by the Eco-Drive technology within.
Amazon customers raved about this watch. One called it “my favorite watch,” adding, “I fell in love with how it looked…It feels and looks like a very high-quality watch. All the functions work perfectly and are not hard to read.”
Another touted the “beautiful blue dial,” and said, “I love good-looking watches…but if the design can incorporate useful functions as well, it’s a winner for me. And this watch does all of that.”
The Citizen Calandrier Eco-Drive Watch will let you know exactly when you are, and it can do so in style. It can also do so for only $260 at the moment, so why not take a chance? We would never waste your time if it weren’t worth it.