Hiroki Takeuchi, founder of GoCardless, talks about starting at Y Combinator, switching ideas, laying the payment plumbing of the Internet, and the rise of the London fintech scene. He also shares his personal story of resilience after a cycling accident that paralyzed him and how it changed his focus.
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Quick takeaways
GoCardless aims to revolutionize recurring payments by providing an alternative to credit and debit cards, making payment collection seamless and easy.
Hiroki Takeuchi emphasizes the importance of resilience, adapting to changing circumstances, and finding meaning in the work you do when building a successful FinTech company.
Deep dives
Go Cardless: The Biggest FinTech Company You've Never Heard Of
Heroki Takauchi, the founder of Go Cardless, shares his inspiring story on how he built the biggest FinTech company in the UK. Go Cardless specializes in recurring payments, offering an alternative to credit and debit cards for businesses to collect payments. The company recently raised $75 million and is expanding internationally. Takauchi discusses the challenges of scaling a business, the importance of focusing on what you can do rather than what you can't, and the impact of his cycling accident that left him paralyzed. He emphasizes the need for resilience, supportive family and friends, and finding meaning in the work you do.
Revolutionizing Payments with Go Cardless
Go Cardless is revolutionizing the way businesses collect recurring payments. By providing an alternative to credit and debit cards, Go Cardless aims to make payment collection seamless and easy. With a focus on subscription-based businesses, Go Cardless enables them to collect payments through customers' bank accounts rather than relying on plastic cards. The company has scaled rapidly and now works with over 40,000 businesses globally. With recent funding of $75 million, Go Cardless is expanding internationally and aims to become the go-to platform for recurring payments worldwide.
Overcoming Challenges in the FinTech Space
Building a successful FinTech company comes with its own set of challenges. Heroki Takuchi shares his journey with Go Cardless, highlighting the importance of resilience and adapting to changing circumstances. He discusses how the FinTech landscape has evolved and the need to create modern, cloud-based technology solutions for the financial industry. Takuchi also sheds light on the regulatory hurdles involved in expanding Go Cardless in the US market, emphasizing the need for a better system to navigate state-by-state financial regulations.
The Journey of Go Cardless: Lessons Learned and Future Ambitions
Go Cardless has come a long way since its inception, and founder Heroki Takuchi reflects on the lessons learned throughout the journey. From rethinking initial business models to focusing on specific industries like subscriptions and invoices, Go Cardless has found its niche in the payments landscape. The company's recent funding round of $75 million will fuel its global expansion and pursuit of being the best way to collect recurring payments worldwide. While there is no specific end goal in mind, Takuchi envisions a future where Go Cardless continues to grow, impact businesses, and drive innovation in the financial technology sector.
The Sunday Times’ tech correspondent Danny Fortson brings on Hiroki Takeuchi, founder of GoCardless, the payment processor and biggest fintech company you have never heard of, to talk about starting at Y Combinator 8 years ago (3:00), the first idea he had with Tom Blomfield and Matt of Monzo (6:00), switching ideas (9:20), why big businesses didn’t so this themselves (11:30), laying the payment plumbing of the Internet (13:55), raising $75m in venture capital funding (16:25), growing up in Swindon (18:30), meeting his co-founders at Oxford (19:25), losing his co-founders (20:30), the dark moments of running a startup (22:30), the rise of the London fintech scene (25:30), the cycling accident that paralysed him (28:20), how it changed his focus (31:30), and the next five years (33:20).