Alphabet-backed GoCardless considers takeovers as CEO expects a barrage of consolidation
Publishing timestamp: 2023-11-14 07:00:00
Summary
GoCardless, a British fintech company, is open to mergers and acquisitions as it aims to grow its market share in the online payments space. The CEO, Hiroki Takeuchi, expects a wave of consolidation in the payments market due to challenging macroeconomic conditions. GoCardless acquired Latvian open banking startup Nordigen last year and is considering more acquisitions to accelerate its growth. The company made revenues of $85.9 million in the fiscal year 2022 but recorded a loss of $62.7 million. Takeuchi believes that some players in the payments industry may be vulnerable to corporate takeovers. GoCardless is also receiving interest from payment service providers to integrate its technology for direct debit capabilities.
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Keywords: alphabet inc, internet, business news, fintech, breaking news: technology, technology, mergers and acquisitions,