Checkout.com has announced a $1 billion funding at a whopping $40 billion valuation. The Fintech said the Series D funding round garnered the participation of Altimeter, Dragoneer, Franklin Templeton, GIC, Insight Partners, the Qatar Investment Authority, Tiger Global, the Oxford Endowment Fund, and another large west coast mutual fund management firm as our primary investors. Checkout.com said that several existing investors also participated in the round. The company’s valuation has doubled in valuation since its Series C in 2021.
In a blog post, founder and CEO Guillaume Pousaz said the capital infusion would help them scale operations to meet demand in the US, while strengthening their position in Web3.
“Combined, these opportunities represent an addressable market in the tens of trillions of dollars, said Pousaz, adding that his company is still in “chapter zero of its journey.
In a release, Checkout.com said that it has grown rapidly in its home market of EMEA, “tripling the volume of transactions processed for the third year in a row.”
The company serves customers like Netflix, Farfetch, Grab, NetEase, and Fintechs like Klarna, Qonto, Revolut and WorldRemit. Crypto is on the roster too as Checkout.com works with firms like Coinbase, Crypto.com, FTX, and MoonPay. In fact, Checkout.com claims to be the leader in providing payment rails for crypto exchanges claiming a huge 80% of global trading volume along with empowering digital wallets like Novi from Meta (AKA Facebook).
Checkout.com says it is currently testing an innovative solution to settle transactions for merchants using digital currencies.
Checkout.com is a payments provider – a sector of Fintech that has boomed in recent years. Today, Checkout.com facilitates more than 150 different currencies along with all major credit creds backed by high tech fraud filters to power reliable digital payments.
Céline Dufétel, Checkout.com’s NYC based CFO, said:
“We have long-faced substantial demand to serve the US market, and with our Series D we’re doubling down on our commitment to scaling our platform, partnerships and products for customers here. Much like our approach in EMEA, we will maintain our focus on the enterprise—especially Fintech, software, food delivery, travel, e-commerce and crypto merchants. We’re looking to help our US customers grow domestically and internationally, and to help our non-US customers expand into the market here. We’re excited about the potential, and expect our North American employee base to grow by 200% this year alone.”
The London-based company launched in 2012 and now has a team of more than 1700 people across 19 offices worldwide.