UK-based Checkout.com, an API-based platform providing seamless, flexible payment methods online which includes all major international credit and debit cards worldwide, raised USD 1 billion on 12th January 2022.
Investors: The investment round was led by major institutions including 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. In addition to Blossom Capital, Coatue Management, DST Global, Endeavor Catalyst, and Ribbit Capital.
Purpose of funding: The startup plans to use the funding to concentrate on three domains. Growth in the US market, launching new marketplace solutions and strengthening leadership in Web3 (decentralized apps based on blockchain technology). Additionally, the startup is looking forward to developing its proprietary technology platforms and solutions to remain at the forefront of Web3.
About Checkout.com
Founded in 2012 by Guillaume Pousaz, Checkout.com is located in London, UK. Checkout.com is an API-based platform providing seamless, flexible payment methods online which includes all major international credit and debit cards from worldwide. The startup helps businesses grow by making online transactions omnichannel, flexible, seamless and providing instant insights about spending. The startup offers fast, reliable payments in 150 currencies using a single API. It also provides in-country acquiring, fraud detection, and reporting tools. As the startup has grown significantly in recent years, its valuation has reached more than USD 40 billion, and it has raised USD 1.8 billion in funding.
What the founder has to say
“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 at 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 a 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.”
What the investor has to say
“Checkout.com is a leader in the massive market for next-gen payment solutions and the key digital payments partner for many of the world’s leading companies. As a long-term investor, we are impressed by the company’s product innovation and customer-centric approach,” said Choo Yong Cheen, Chief Investment Officer, Private Equity at GIC, Singapore’s sovereign wealth fund.
“That’s why we’ve been committed to its long-term future since Series A and why we’re part of Series D. We believe Checkout.com is still just getting started. And we look forward to leveraging GIC’s global network and our Bridge Forum platform to support Guillaume and his exceptional team for many years to come.”
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