Kerching! London fintech Checkout.com reaches $40billion valuation

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ondon fintech Checkout.com has become Europe’s second most valuable start-up after a funding round that has seen its value skyrocket to $40 billion.

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Investors include ‘Tiger Cubs’ Chase Coleman’s US fund Tiger Global, California-based asset manager Franklin Templeton, Singapore’s GIC and Qatar’s Sovereign Wealth Fund.

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The $1 billion Series D round has more than tripled the value of the London-based firm – and is second only to Sweden’s $46 billion Klarna.

It is also the third most valuable private fintech in the world.

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The company’s technology processes payments for businesses such as Netflix, Pizza Hut, Sheen’s H&M and Coinbase.

It employs 1,700 in 19 countries and the new capital will be used for US expansion as it ramps up competition in the $5 trillion online sales market with rivals San Francisco’s Stripe and Dutch fintech Aiden.

The news has since seen Checkout.com more than double its valuation Series C one year ago. In that time, it has grown exponentially, tripling the volume of transactions processed for the third year in a row.

It also plans to increase its business catering to cryptocurrency companies.

checkout.com

Last summer, the company hired money manager T. Rowe Price Group’s chief financial officer Céline Dufaytel.

She told Businesshala: “We’ve faced long enough demand to serve the U.S. market, and with our Series D we’re doubling down on our commitment to growing our platform, partnerships and products for customers here. are.”

Guillaume Pousazi of Checkout.com

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Guillaume Pousazi of Checkout.com

, checkout.com

Chief executive Guillaume Pousaz said the company plans to eventually go public, but is not yet ready to do so.

“Combining an elegant technology stack with industry expertise over the past decade and an ‘extra mile’ approach to service, we have forged deep partnerships with some of the most innovative companies in the world.

“Our Series D is a validation of that work – but given that we are still in ‘Chapter Zero’ of our journey, it will also fuel our efforts to unlock the vast untapped opportunity ahead.

“We will have a long life in the public market. We have a few years before we get there,” he said.

Chu Yong Chen, Chief Investment Officer, Private Equity at GIC, said: “Checkout.com is a mass market leader for next-gen payment solutions and a leading 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-focused approach.”

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