GoCardless halves losses in FY24 results with 38% revenue increase
UK fintech GoCardless has revealed it reduced its losses by more than half in the fiscal year 2024 as the company targets profitability in the near future.

GoCardless’ revenues were up 38% in FY24 to £126.8m
The company recently published its Companies House filing for FY24, with its accounts between 1 July 2023 and 30 June 2024 revealing that the fintech recorded net losses of £35.1 million. This represents a 55% decrease on FY23, when the fintech posted losses of £78 million.
The company also recorded a 38% year-on-year increase in revenue to £126.8 million, with total income including interest and subsidiary revenue now standing at £132.8 million.
Meanwhile, international revenues continued on the same upwards trajectory, growing from £21 million in FY23 to £30.8 million in FY24.
Revenues in Europe and America increased by around 50% each, while operations in the UK and Ireland also performed well, with revenues rising 35% to £96 million.
‘A clear path to profitability’
In a statement announcing the results, GoCardless says that it “undertook a series of cost-cutting measures to accelerate the fintech’s path to profitability” in the last quarter of FY23.
It was revealed in June 2023 that the company was set to lay off 15% of its workforce in the UK, US, Australia and New Zealand, or about 135 roles, as part of wider cost reduction plans.
“These measures, combined with revenue growth, contributed to a reduction of £43.6m in operating loss in FY24 before depreciation and amortisation,” the company says.
More recently, GoCardless inked an agreement with EML Payments in September to acquire its payment services subsidiary Sentenial, which operates under the Nuapay brand, for an undisclosed sum.
For Hiroki Takeuchi, co-founder and CEO of GoCardless, the company’s latest figures “point to a clear path to profitability”.
“We’re continuing to see the results of our increased focus on international markets and our indirect channels,” he states.