London based online payment platform raises $1bn in funding round, reaching $40bn valuation

Following a successful 2021, London headquartered Checkout.com has raised $1bn (£731m) in its Series D funding round at a valuation of $40bn (£29.2bn).

Primary investors include 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. Several of the company’s other existing investors also participated in this round.

Checkout.com offers a full-stack online platform that simplifies payments processes for large global enterprise merchants. This supports its mission to enable businesses and their communities to “thrive in the evolving digital economy”.

The Series D capital will strengthen the company’s balance sheet and drive three key initiatives: its ambitious growth plans for the US market; the continued evolution of its proprietary technology platform and solutions; and its goal to remain “on the cutting edge of Web3”.

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

Over the past year Checkout.com opened new offices in six countries across four continents to cater to surging merchant demand. It also expanded its executive leadership team in the US and Europe with a new CFO, CHRO, CMO, CPO, CRO and CTO, all while growing its overall employee base to more than 1,700 people in 19 countries.

Checkout.com founder and CEO, Guillaume Pousaz, commented: “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.

“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 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.”