Global payments processor Checkout.com recently closed on $1 billion in series D funding at a valuation of $40 billion. After capitalizing on the continued steep growth of e-commerce last year, U.K.-based Checkout.com has doubled its valuation since closing their series C round just a year ago. The company provides a full-stack platform that simplifies payments processes for large global brands like Netflix, Farfetch, Grab, NetEase, Pizza Hut, Shein, Siemens, and Sony, as well as fintech unicorns such as Klarna, Qonto, Revolut and WorldRemit.
“At our core, we help enterprise merchants to navigate the complexity of moving money around the world, whether in fiat currency or bridging the gap to Web3,” said Checkout.com founder and CEO, Guillaume Pousaz. “By combining an elegant technology stack with industry expertise and an ‘extra-mile’ approach to service over the past decade, we’ve built deep partnerships with some of the world’s most innovative companies. Our Series D is validation of that work—but given we’re still in ‘chapter zero’ of our journey, it will also fuel our efforts to unlock the enormous untapped opportunity ahead.”
The company, which is revenue-positive with a strong balance sheet, announced that funds will be used to support continued growth in three key areas: U.S. market growth, marketplaces solution launch, and strengthening leadership in Web3.
Overview by Don Apgar, Director, Merchant Services Advisory Practice at Mercator Advisory Group