UK FinTech GoCardless has reported a year of revenue growth and narrower losses as it moves towards profitability, following a completed restructuring that involved around 90 roles.

According to Companies House filings reported by City A.M., the London-based payments firm booked a redundancy provision covering roughly 90 positions in the year to 30 June 2025. GoCardless said these redundancies were made in FY25 as part of a strategic initiative to improve operational efficiency and to support the creation of new hubs in Lisbon and Leeds. The company added that it continues to hire, particularly into these hubs, and expects its total headcount to rise in 2026.

The redundancy programme contributed to a £5.6 million increase in restructuring costs in the period. Separately, employee expenses rose by £7.1 million year on year, which GoCardless said mainly reflected the integration of staff who joined the business through its acquisition of open banking provider Nuapay.

The cost measures formed part of a broader effort to improve margins, as losses before tax narrowed to £24.2 million from £31.2 million a year earlier. Revenue increased to £155.5 million from £131.3 million, supported by customer growth and renewals.

GoCardless has already recorded its first EBITDA-positive quarter on an adjusted basis in the final quarter of FY25, supported by a 22 per cent rise in revenue and tighter cost controls. The company expects to report its first full year of profitability on an adjusted basis in its next annual results.

Growth in transaction volumes has been a key driver. Payment volumes doubled year on year to £79.2 billion, helped by the Nuapay deal completed in September 2024. Excluding the acquisition, underlying payment volumes rose by nearly a third.

Hiroki Takeuchi, co-founder and chief executive 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 restructuring took place ahead of the company’s €1 billion-plus acquisition by Dutch FinTech Mollie, announced in December 2025. The deal will create a combined payments provider serving more than 350,000 businesses across Europe, which Takeuchi described as bringing together “highly complementary businesses”.

GoCardless said it expects the financial benefits of the FY25 restructuring to be realised in the current financial year, with directors forecasting that the business will become cash generative by June 2026.

---