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Checkout secures £ 730m Series D investment from investors including Altimeter – UK Tech Investment News

Checkout.com Raises $ 1 Billion in Series D As US Market Boosts Significantly

  • Payment processors around the world have a valuation of $ 40 billion and have raised a total of $ 1.8 billion to date.
  • Key investors include Altimeter, Dragoneer, Franklin Templeton, GIC, Insight Partners, Qatar Investment Authority, Tiger Global, Oxford Endowment Fund, and another large West Coast Mutual Fund Manager.
  • The funds will be used in three key areas: growing the US market, launching marketplace solutions, and strengthening leadership in Web3.

London, England — January 12, 2022 —Following a very successful year of processing hundreds of billions of dollars in some payments of the world’s largest merchants, Checkout.com Today, we raised $ 1 billion in a Series D funding round with a valuation of $ 40 billion.

Key investors include Altimeter, Dragoneer, Franklin Templeton, GIC, Insight Partners, Qatar Investment Authority, Tiger Global, Oxford Endowment Fund, and other large West Coast mutual fund management companies.Some of the other existing investors in the company[1] I also participated in this round.

Checkout.com Provides a full-stack online platform that simplifies the payment process for large global enterprise merchants. It supports its mission to enable businesses and their communities to thrive in an evolving digital economy.

Given that the company has been profitable for several years, Series D capital strengthens its already strong balance sheet and drives three major initiatives. Continuous evolution of unique technology platforms and solutions. And the goal is to stay at the forefront of Web3.

According to the news, Checkout.com’s valuation has more than doubled. Series C one year ago. Meanwhile, EMEA’s domestic market has grown rapidly, trebling the volume of transactions processed for the third consecutive year. Today, the company serves large e-commerce and service merchants such as Netflix, Farfetch, Grab, NetEase, Pizza Hut, Shein, Siemens and Sony. Fintech unicorns such as Klarna, Qonto, Revolut and World Remit. Many of the world’s largest crypto players, including Coinbase, Crypto.com, FTX and MoonPay.

Over the past year, Checkout.com has opened new offices in six countries on four continents to meet the surge in merchant demand. also, Executive Leadership Team New in the US and Europe CFO, CHRO, CMO, CPO, CRO When CTO— We are increasing our employee base to over 1700 in 19 countries.

Checkout.com’s founder and CEO said: Guillaume Pouzaz..

“By combining an elegant technology stack with industry expertise and an” extra mile “approach to services over the last decade, we have built deep partnerships with some of the world’s most innovative companies. Our Series D is a verification of that work, but given that we are still in “Chapter 0” of the journey, it is also our effort to unleash huge untapped opportunities in the future. Will stimulate. “

Scale up to meet US demand

With the United States as one of the largest e-commerce markets in the world, Checkout.com has made significant investments in its domestic technology infrastructure and today offers the United States a completely unique end-to-end payment processing platform. increase.

This provides the same unmatched performance, improved certification rates, and feature equivalence as the market-leading platform that the company offers to merchants in other countries. Checkout.com will also be one of the only providers in the United States to provide a complete cloud-based platform that connects directly to local networks in all major regions and supports all major alternative payment methods. ..

Checkout.com’s New York-based CFO said: Celine Dufetel..

“Similar to our approach at EMEA, we continue to focus on businesses, especially fintech, software, food delivery, travel, e-commerce and cryptocurrency merchants. We have US customers domestic and international. We aim to help our non-US customers expand into the market here. We are excited about that potential and our North American employee base is only this year. I expect it to increase by 200%. “

Evolution of platforms for the market

Checkout.com plans to launch a solution to serve marketplaces and payment facilitators (payfacs) later this year after comprehensive testing with multiple global merchants over the past few months. This expands the company’s ability to process payments within the online marketplace. Trading volumes have increased dramatically in this sector due to the transition to digital during a pandemic and the expansion of the gig economy a few years ago.

These new solutions include identity verification technology, installments, finance as a service, and payment—Checkout.com was launched last year to help merchants send funds to cards and bank accounts around the world through a single integration. Since then, the company has successfully processed billions of dollars in payment transactions such as TikTok and MoneyGram.

“The expansion of our product roadmap is the result of many years of dedicated work by our global platform and engineering team,” said Checkout.com, CTO. Otto Kauk Bar.. “As a product-first company with nearly half of our total workforce dedicated to the role of technology, we continue to drive this rhythm of innovation, opening up additional opportunities throughout the payment value chain. , Can meet the needs of merchants around the world. “

Opportunity to define generations in Web3

Global e-commerce is expected to continue to outpace traditional commerce growth, with Checkout.com continuing to strengthen its position in the Web3 space, especially with the adoption of new technologies such as cryptocurrencies and NFTs.

The company’s payment rails already power the world’s leading crypto exchanges, accounting for almost 80% of the world’s trading volume.Its modular products and resilient platforms are also used by fan token providers such as: Socios.com A blockchain-based wallet like Meta’s Novi. In addition, the company is privately beta testing an innovative solution for closing merchant transactions using digital currencies.

“Checkout.com is a giant market leader in next-generation payment solutions and a leading digital payment partner for many of the world’s leading companies. As long-term investors, we are a company’s product innovation and customer-centric approach. “I’m impressed with,” said Choo Yong Cheen, Chief Investment Officer of Private Equity. GIC, Singapore Sovereign Wealth Fund. “That’s why we’re committed to the long-term future since Series A and why we’re part of Series D. We believe Checkout.com is just getting started. And GIC’s global network We look forward to leveraging the Bridge Forum platform to support Guillaume and his team of excellence over the years to come. “

For more information on Checkout.com and Series D rounds, please visit: www.checkout.com..

_____________________

contact address

Adrienne Wayne Wright & Lewis Jones, [email protected]

About Checkout.com

Checkout.com offers the fastest and most reliable payments in over 150 currencies, with domestic acquisitions, world-class fraud filters, and one API reporting. Checkout.com can accept all major international and debit cards, as well as common alternative and domestic payment methods. Founded in 2012, the company currently has a team of more than 1,700 people in 19 offices around the world, providing local expertise as needed. For more information, www.checkout.com..

[1] Blossom Capital, Court Management, DST Global, Endeavor Catalyst & Ribit Capital

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Checkout secures £ 730m Series D investment from investors including Altimeter – UK Tech Investment News

Source link Checkout secures £ 730m Series D investment from investors including Altimeter – UK Tech Investment News

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