GoCardless Grows 22% in FY 25 as Fintech Records First Quarter of Profitability

WHY THIS MATTERS:This announcement marks a critical inflection point in the narrative of high-growth European fintech: the validation of the bank payment model through a clear path to profitability. GoCardless’ 22% growth and milestone first positive adjusted EBITDA quarter demonstrate that the high-volume, low-margin architecture of Open Banking infrastructure is reaching maturity. More significantly, the recently announced acquisition by Mollie transforms the two entities into a European payments powerhouse, uniting card acquiring and bank-to-bank capabilities. For the market, this consolidation sets a precedent, showing that scaling an innovative, foundational payments layer can achieve sustainable financial returns. The sheer volume of transactions, doubled to nearly £80 billion, signals that merchants are rapidly shifting away from costly card networks for both one-off and Recurring Payments. The market should view this not just as a financial result, but as the final strategic move before the combined entity begins an aggressive push against incumbent providers across the continent.

Revenues increased 22% year-on-year at bank payment company GoCardless, according to its latest Companies House filing.  

In the 12 months ending 30 June 2025, total turnover for the Group rose to £160.9m from £132.3m in FY24. GoCardless Ltd, which includes its UK and European operations, comprised £155.5m of the consolidated figure, up 18% year-on-year.   

The Group entity doubled the volume of payments processed, up to £79.2bn, in part due to its acquisition of Nuapay, which closed in September 2024. 

Growth was driven by new customer and partner signings, alongside relationship renewals and expansions, such as with Policy Expert and Capital on Tap.  

During FY25, GoCardless continued to play a leading role across the payments industry. Highlights include  joining an sector-wide coalition to accelerate the rollout of commercial Variable Recurring Payments (VRPs) and launching Outbound Payments, its disbursements capability, to become an end-to-end payment provider, enabling over 100,000 businesses to collect, send and optimise their payments through a single platform.  

Losses continue to narrow on the path to profitability 

As a result of steady revenue growth and a continued focus on cost control, GoCardless achieved a 27% decrease in net losses in FY25, building on a 55% decrease in FY24.  

The company recorded its first EBITDA-positive quarter on an adjusted basis in the final quarter of FY25. It is expected to continue this trajectory to achieve its first EBITDA-positive year on an adjusted basis in FY26.

Continued momentum in FY26 

Since the books closed on 30 June 2025, GoCardless has gone from strength to strength. Select milestones include: 

Later this year GoCardless will launch commercial Variable Recurring Payments, also known as recurring Pay by Bank. As open banking payments become mainstream, GoCardless has developed a high-performance solution that makes adoption viable and highly effective today, featuring 100% payer coverage from day one and 99.5% uptime, ensuring reliable service — a critical factor for early adopters and a common concern across the industry. 

Hiroki Takeuchi, co-founder and CEO of GoCardless, said: “The FY25 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 FY26.  

“The Mollie news also reflects our bright future. We’re excited to bring together two highly complementary businesses that have built best-in-class products across Europe and beyond to better serve our customers and raise the bar for the industry.” 

FF NEWS TAKE: This set of results, coupled with the strategic Mollie acquisition, undeniably moves the needle for the entire PayTech sector. The shift from high growth at any cost to profitable growth creates a new benchmark for peers. Our attention now turns to the post-merger integration. The critical next phase will be the mass-market adoption of commercial Variable Recurring Payments (VRPs)—if GoCardless can execute this next-generation Open Banking capability at scale, they will directly challenge the dominance of card providers in Europe.