Gocardless axes 90 jobs as UK fintech targets profitability
UK fintech Gocardless has taken the chop to its workforce as the firm sets its sights on breaking into the black in the new financial year.
The London-based firm, which specialises in bank-to-bank payment solutions, said it had made a redundancy provision for around 90 roles in the year ending 30 June 2025. This led to restructuring costs increasing by £5.6m.
Much of the increase in employee expenses was pointed to the firm’s acquisition of Nuapay, which was closed in September 2024 with the firm integrated into Gocardless last year.
The group said it had recorded a £4.2m provision for one off “severance and retention costs” which it expects to be “materially utilised” in the upcoming financial year.
Losses before tax persisted at the fintech, though narrowed to £24.2m, compared to the previous year’s £31.2m. This came after a jump of near a fifth in total turnover, reaching £155.5m, up from £131.3m.
Gocardless snapped up by Dutch fintech titan
The acquisition of Nuapay helped take transaction volumes to £79.2bn – a whopping 100 per cent year-on-year increase. Excluding the takeover, payment volumes still grew by nearly a third.
Gocardless said it expects the “financial benefits” of its restructuring to be “realised” in its next financial results, with directors pencilling in the firm being “cash generative” by 30 June 2026.
Hiroki Takeuchi, co-founder and chief executive of Gocardless, said: “The 2025 results demonstrate strong momentum across our business.
“Key wins, strategic renewals, and ongoing innovation within our platform fueled our growth and, with disciplined cost control, we’re on track for our first profitable year on an adjusted basis in full-year 2026.”
The firm – which is headquartered in London but boasts offices in Australia, France, Ireland, Latvia, and the United States as well as a northern hub in Leeds – was snapped up by Dutch fintech giant Mollie last December.
The €1bn deal creates one provider serving over 350,000 businesses.