Payday for GoCardless Founders After Mollie Acquisition Nears Billion Pounds

Hiroki Takeuchi, chief executive of GoCardless, is set to receive a significant payout following the sale of the payments company to Dutch competitor Mollie. The transaction, valued at approximately £920 million, sees Mollie acquire GoCardless for €1.05 billion, largely in stock with a portion in cash. This agreement rewards Takeuchi and his fellow founder Tom Blomfield, both prominent figures in the British technology sector, only nine years after Takeuchi was paralysed in a cycling accident.

Takeuchi co-founded GoCardless in 2011 alongside Oxford alumni Blomfield and Matt Robinson. The London-based payments group now facilitates transactions for over 100,000 businesses, processing more than $130 billion annually. The company recently reported profitability during the three months to the end of June, although a pre-tax annual loss of £34.5 million was posted for 2024.

The sale marks a turning point for GoCardless, coming after a period of rapid growth and a notable previous valuation of $2.1 billion in 2022. The fintech sector has faced pressure on valuations in recent years, attributed to rising interest rates and shifted investor sentiment away from high-growth, loss-making businesses. Despite the decline in headline valuation, Takeuchi emphasised the strategic advantages, stating that all stakeholders are meaningfully engaged in the combined organisation.

Investors in GoCardless include Balderton Capital, as well as BlackRock and Permira, both of which participated in a significant fundraising round in 2022. While the precise shareholder structure remains opaque, Takeuchi and Blomfield are each believed to retain stakes in the business. Both have maintained prominent roles in the technology community, with Blomfield also co-founding Monzo and now serving as a partner at Y Combinator in San Francisco.

Takeuchi is expected to continue in a senior role within the merged entity, demonstrating his ongoing commitment to the future of the enlarged group. Once completed, the transaction will create a payments powerhouse serving over 350,000 businesses across Europe. The deal is projected to finalise by the middle of next year.

This acquisition represents a significant development for the UK fintech landscape, underlining the sector’s capacity for growth and resilience amid evolving market conditions.