London-based global payments processor Checkout.com has raised $1 billion in Series D funding at a $40 billion valuation. The funding will help drive three key initiatives: U.S. market growth, continued evolution of the technology platform and Web 3 efforts.
- “We have long-faced substantial demand to serve the U.S. market, and with our Series D we’re doubling down on our commitment to scaling our platform, partnerships and products for customers here,” said Checkout.com CFO Céline Dufétel in the announcement post.
- “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 U.S. customers grow domestically and internationally, and to help our non-U.S. customers expand into the market here,” continued Dufétel, noting that the North American employee base is expected to grow by 200% this year alone.
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- Over the past year, Checkout.com has opened new offices in six countries across four continents and expanded its executive team in the U.S. and Europe. The company currently has more than 1,700 employees in 19 countries.
- The funding round more than doubled Checkout.com’s valuation from the Series C round a year ago. Primary investors included Altimeter, Dragoneer, Franklin Templeton, GIC, Insight Partners, the Qatar Investment Authority, Tiger Global and the Oxford Endowment Fund, among others.
- Checkout.com offers a full-stack online platform that simplifies payments processing for global online merchants. Customers include Netflix, Pizza Hut and Sony plus crypto companies Coinbase, Crypto.com, FTX and MoonPay.
- Checkout.com will continue to focus on strengthening its position in the Web 3 space, the company said. The company’s modular products and platform are currently used by fan token providers like Socios.com, and blockchain-based wallets like Meta’s much delayed Novi. Checkout.com is also beta testing a solution to settle transactions for merchants using digital currencies.
