GoCardless adds to Leeds’ financial cluster
The bank payment company has picked the city to be its Northern hub, taking space for 50 employees in Bruntwood SciTech’s West Village.
The move aligns with the UK government’s Financial Services Growth and Competitiveness Strategy, designed to make the UK the number one destination for financial services businesses, and adds to the growing cluster of finance companies setting up home in Leeds.
Long-established financial institutions in the city include Leeds Building Society, Bank of England and the Financial Conduct Authority (FCA), plus other fintech companies such as Pexa, LHV UK, and Microsoft.
Scheduled to open later this year, the Leeds office will have 50 employees in the first 12 months, before GoCardless scales up in the coming years.
This replicates the company’s model of hub offices in London and Riga.
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Hiroki Takeuchi, co-founder and chief executive at GoCardless, said: “Leeds is one of the UK’s most vibrant financial and professional services centres, with a thriving fintech community and strong university network.
“It was a natural choice for our Northern Hub and with the introduction of the Leeds Reforms, this dynamic ecosystem will only grow.”
Tracy Brabin, Mayor of West Yorkshire Combined Authority, said: “This announcement is a huge vote of confidence in our region’s outstanding ecosystem of talent, innovation and collaboration.
“GoCardless’ expansion is both a powerful validation of our local growth plan and a clear demonstration of the Chancellor’s Leeds Reforms in action.
“In 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.”
Cllr James Lewis, leader of Leeds City Council, said: “We’re delighted to welcome GoCardless to Leeds and into the home of the Northern Square Mile.
“We’re confident that GoCardless’s expertise and innovation will complement our existing strengths and contribute significantly to the collaborative ‘Team Leeds’ approach that drives success across all sectors.
“This is an exciting time for Leeds, and we are optimistic that the government’s recently announced Leeds Reforms will further stimulate significant investment and boost the UK economy.
“Located at the heart of the UK, joining financial powerhouses London and Edinburgh to serve the international market, our financial and professional services sector contributes 40% of the city’s Gross Value Added, and we are uniquely positioned to leverage the huge potential of this key growth sector.”
Chancellor of the Exchequer, Rachel Reeves, said: “Just 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.”
