UK FinTech Gocardless has earmarked around 90 roles for redundancy as it pushes towards profitability following a year of revenue growth and reduced losses.

According to Companies House filings reported by City A.M., the London-based payments firm made a redundancy provision covering roughly 90 positions in the year to 30 June 2025, contributing to a £7.1 million rise in employee expenses and £5.6 million in restructuring costs. The company also set aside £4.2 million for one-off severance and retention costs, expected to be largely utilised in the current financial year.

The cost-cutting measures form part of a broader effort to improve margins, as losses before tax narrowed to £24.2 million from £31.2 million a year earlier, City A.M. reported. Revenue rose sharply over the same period, increasing to £155.5 million from £131.3 million, driven 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 outlet said the company expects to achieve its first full year of profitability on an adjusted basis in its next annual results.

Growth in transaction volumes has been a key driver of performance. Oayment volumes doubled year on year to £79.2 billion, aided by the acquisition of open banking firm Nuapay, completed in September 2024. Even excluding the deal, underlying payment volumes increased 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 €1billion-plus acquisition by Dutch FinTech Mollie, announced in December 2025, which will create a combined payments provider serving more than 350,000 businesses across Europe. Takeuchi said the deal “reflects our bright future” and would bring together “highly complementary businesses”.

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

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