Checkout.com, a global payment solutions provider based in the UK, announced on Wednesday it has completed its first acquisition. The company acquired french payment startup, ProcessOut. The acquisition follows Checkout.com’s $230 million Series A funding round, which values the company at nearly $2 billion.
Checkout.com reported that ProcessOut, which is an alumnus of Techstars NY and 50 Partners accelerator programs, provides a dashboard for businesses to monitor and benchmark payment processing capabilities. Meanwhile, a smart router optimizes payment processing in real-time to improve performance and reduce costs.
While sharing more details about the acquisition, Guillaume Pousaz, Founder and CEO of Checkout.com, stated that combining ProcessOut’s expertise and features on its platform will allow the company to offer its global merchants with a “deeper set” of actionable insights in order to approve their acceptance rates and maximize the cost efficiency of payments.
“Given we believe unconditionally that a business is only as good as its people, we are really excited to bring the ProcessOut team onboard to contribute towards our mission of building the future of banking.”
The ProcessOut team will also join Checkout.com’s growing Paris and London offices. As previously reported, Checkout.com helps companies accept more payments around the world through one integration. Its global payment processing platform features in-country acquiring, relevant payment methods, feature parity across geographies, fraud filters, and reporting features, through one API.
“Businesses use our proprietary payment platform for faster processing, better reliability, and full access to customizable data streams. Processing 150+ currencies, we have direct access to Visa, Mastercard, American Express, all major international cards, as well as popular alternative and local payment methods.”
Recently, the company was awarded its E-Money Institution license in France by the Autorité de Contrôle Prudentiel et de Résolution (ACPR). Checkout.com revealed at the time that with the license it will be able to issue, manage, and provide payment services to European businesses from French-regulated and autonomous entities.