With this new fundraiser (a Series D), Checkout.com becomes the third most valuable fintech in the world, just behind Stripe and Klarna. The British fintech has made a new funding round of 870 million euros, which allows him to reach a valuation of 35 billion euros.
British fintech is valued at 35 billion euros
According to the startup’s press release, this new fundraiser “Allows the company to more than double its valuation since the Series C round of funding completed a year ago”. The start of 2022 seems extremely conducive to tech players. Many fundraisers have taken place in Europe and particularly in France (with PayFit, Qonto, Ankorstore and BackMarket) in barely two weeks. Checkout.com is now part of the top 3 most valued fintech in the world.
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It must be said that the British fintech is in great shape. It announces that it has tripled the volume of transactions processed for the third consecutive year, thanks to a very strong growth in Europe, but also in the Middle East and Asia. Checkout.com offers an increasingly comprehensive payment solution. In particular, the company enables international brands “to deploy digital payment solutions at the speed and scale required”.
Checkout’s technology supports payments by card, Apple Pay, Google Pay, PayPal, Alipay, bank transfers, or SEPA direct debits. Unlike Stripe, Checkout.com focuses specifically on large companies with a very high volume of transactions. The company’s clients include Netflix, Farfetch, Grab, NetEase, Pizza Hut and Shein. The company also contributes to the development of several fintechs such as Klarna, Qonto, Revolut or WorldRemit.
Checkout.com targets the US market
If the British fintech has raised so much money, it is because it has solid arguments. Checkout.com is profitable for several years, which is rather rare in the world of startups. To raise 870 million euros, Checkout.com only had to sell 2.5% of its shares… This gives a good idea of the health of the company. The company counts today 1,700 employees in 19 countries. With this new lifting, Checkout.com wants to focus specifically on the US market.
For Céline Dufétel, CFO of Checkout.com, “To expand our solution in the US, we will continue to focus on large enterprises, particularly software, food delivery, travel, e-commerce and cryptocurrency companies. We seek to help our US customers grow domestically and internationally, and to help our non-US customers grow in the US market”.