- Leading Connected Payments solutions provider Checkout.com announced that it raised $450 million in Series C funding at a post-money valuation of $15 billion
Leading Connected Payments solutions provider Checkout.com announced that it raised $450 million in Series C funding. This round of funding gives the company a post-money valuation of $15 billion. The Series C funding round was led by Tiger Global Management. Greenoaks Capital also joined the round along with participation from existing investors Insight Partners, DST Global, Coatue Management, Blossom Capital, Endeavor Catalyst, and Singapore’s Sovereign Wealth Fund GIC.
This round of funding comes as the global economy looks beyond the COVID-19 pandemic. And while many organizations have historically relied on one-size-fits all payment systems, the need to drive improved performance, gain transparency across payments, and extract valuable information from data is increasingly becoming a competitive differentiator.
Checkout.com’s cloud-based unified platform enables merchants for managing payins and payouts at scale while achieving better performance and improved acceptance rates globally. And leading e-commerce businesses like Farfetch, Mango, Victoria’s Secret, L’Occitane and The Hut Group depend on Checkout.com for a fast and reliable, adaptable, and safe platform that gives granular access to the data and pricing behind every transaction.
Even though Checkout.com’s profits from current operations will continue to be reinvested to power future growth, the new funding will be used to further grow its balance sheet and drive new innovative opportunities. And with a total of $830 million raised within the last two years, Checkout.com’s readily available cash represents one of the strongest balance sheets across all global fintechs.
Along with the Series C funding announcement, Checkout.com is announcing the opening of its New York City office. And the company first launched in the U.S. in 2017 and has operations in San Francisco. Together, the bicoastal offices will power the organization’s ability to meet the growing demand in the U.S. for Connected Payments solutions as Checkout.com increases its focus on serving U.S.-based enterprises in domestic, global, and cross-border payments. The company is also launching an office in Denver. Globally, Checkout.com will hire an additional 700 people across all its locations in 2021.
Checkout.com’s transformative approach to payments and payouts has garnered its reputation as the most trusted technology provider behind many of the most valuable fintechs like Klarna, Revolut, Transferwise, Coinbase, and eToro. And with a platform that can support both best-performing global payments and payouts, Checkout.com has become the backbone of many progressive business models.
“Payments affect everything from the customer journey to a business’s ability to enter new markets or launch new products. This latest fundraise reflects our market-leading position and the size of our aspirations as we accelerate in our mission to empower merchants to build better products, drive more revenue and create innovative business models by reimagining interactions with financial services. Our new investors bring a wealth of experience across payments, technology, and scaling companies – crucial knowledge for the next stage of our growth, as we continue to build our vision for the future of Connected Finance.”
— Guillaume Pousaz, CEO and Founder of Checkout.com
“We are excited to partner with Guillaume and Checkout.com as they continue to build an innovative global payments and financial services platform trusted by leading internet companies. We believe the shift to digital commerce is still in the early stages, and Checkout.com’s focus on developing a best-in-class technology platform has positioned them to be a leader in the industry for years to come.”
— Scott Shleifer, Partner at Tiger Global Management