London-based FinTech GoCardless is set to open a new office in Leeds to strengthen its UK footprint as it works towards profitability.
The company, which processes direct bank payments for businesses of all sizes, will establish the new hub later this year in the city centre.聽
Around 50 roles across sales, partnerships, corporate services and operations are planned for the first 12 months, with headcount expected to grow rapidly in the coming years,replicating the expansion model of its existing bases in London and Riga.
The move comes as the firm continues to reshape its operations.聽
In February, 老九品茶Cloud reported that the business had cut around a fifth of its workforce, reducing headcount from 764 to just over 600, and shifted several operational support teams to Riga.聽
The changes helped narrow net losses by 55% in FY24, from 拢78 million to 拢35.1m, while revenues climbed 38% to 拢126.8m.聽
GoCardless has said it is aiming for profitability by mid-2026.
International growth is also gathering pace, with revenues outside of the UK jumping 47% to 拢30.8m, and Europe and North America each posting growth of roughly 50%.聽
Domestic revenue grew 35% to 拢96m, supported by new signings and renewals with clients including Topps Tiles and JustGiving.
鈥淟eeds is one of the UK鈥檚 most vibrant financial and professional services centres, with a thriving fintech community and strong university network,鈥� said GoCardless CEO Hiroki Takeuchi.
鈥淚t was a natural choice for our Northern hub and with the introduction of the Leeds Reforms, this dynamic ecosystem will only grow.聽
鈥淲e鈥檙e excited to become a key player in this FinTech hot spot, tapping into a rich talent pool while also providing closer, more local support to our customers and partners across the region.鈥�
The firm joins a growing number of financial services players in Leeds, from long-established institutions like the Bank of England and Leeds Building Society, to FinTech newcomers including Pexa and LHV UK.
Chancellor of the Exchequer, Rachel Reeves, added: 鈥淚 am delighted to see the plans for GoCardless to set up their new office in Leeds, delivering good, high-skilled jobs across the region.
鈥淛ust a few months ago I set out our Leeds Reforms, the plans to make the UK the top destination for financial services businesses by tearing down barriers to investment.聽
鈥淲e have brought stability back to the country, now we鈥檒l build an economy that delivers for, and rewards, working people.鈥�
Tracy Brabin, Mayor of West Yorkshire Combined Authority, said: 鈥淭his announcement is a huge vote of confidence in our region’s outstanding ecosystem of talent, innovation and collaboration.聽
鈥淕oCardless鈥� expansion is both a powerful validation of our local growth plan and a clear demonstration of the Chancellor鈥檚 Leeds Reforms in action.聽
鈥淚n creating a vibrant companion to the City of London, we are forging the global financial district of the future, helping to unlock investment and build a stronger, brighter West Yorkshire.鈥�