The British fintech based in Barcelona checkout.com 2022 begins with the announcement of the closing of a Series D for a value of $1 billion, which raises the company’s valuation by 40,000 million dollars (34,900 million euros), all this while it is in full expansion within the international market of electronic payment providers. In this way, it becomes the second most valuable on the continent, only behind another fintech: Klarna.
Altimeter, Dragoneer, Franklin Templeton, GIC, Insight Partners, Qatar Investment Authority, Tiger Global and Oxford Endowment Fund are some of the main investors that participated in this financing round of Checkout.com; Likewise, many of the company’s current investors were present.
With this announcement, Checkout.com has doubled its valuation since the Series C funding round a year ago. Since then, it has registered rapid growth in EMEA, its home market, tripling the volume of transactions it processes for the third consecutive year, as detailed by the fintech in a statement. Today, the company serves large eCommerce and service companies such as Netflix, Farfetch, Grab, NetEase, Pizza Hut, Shein, Siemens and Sony; in addition to fintech unicorn companies such as Klarna, Qonto, Revolut and WorldRemit; as well as many of the big players in the cryptocurrency market, such as Coinbase, Crypto.com, FTX and MoonPay.
What is Checkout.com
Checkout.com is the payment provider for many large European e-commerce companies, such as Mango, Farfetch, or Klarna and bases its proposal on offering faster and more reliable payments in more than 150 currencies, with in-country procurement, world-class fraud filters, and a reporting system; all through a single API. They can also accept all major international credit and debit cards, as well as the most popular local and alternative payment methods. checkout.com launched in 2012 and now has a team of 1,100 people in 18 offices around the world offering local expertise where it’s needed. In May 2021 he opened his new office in Barcelonawhich acts as the company’s headquarters in southern Europe, serving Spain, Portugal, Italy and Greece.
As the company explained at the time, “Before the pandemic, southern Europe was already showing great opportunities for e-commerce, with strong adoption rates in Spain (58%), Italy (52%) and Greece (50%). And these figures are expected to exceed those of other regions of Europe in the coming years, as the level of ecommerce adoption remains below 82% in the US and 71% in Germany. Checkout.com’s continued investment in the region will support local businesses with better performance of their online payments and with better digital payment experiences in a context in which more and more consumers are making purchases online.”
Checkout.com provides the world’s largest merchants with an online platform that simplifies payment processes, supporting their mission to make online payment platforms easy for businesses and their communities to thrive in a growing digital economy. keeps in constant evolution.
The growth of Checkout.com
Given that the company has been profitable for several years, the capital received from Series D will strengthen its already solid balance sheet and, at the same time, will boost three key areas: its ambitious growth plans in the US market; in addition to the continuous evolution of its own technological platform and its solutions; as well as its commitment to grow within the framework of the.
During 2021, Checkout.com not only opened new offices in six countries on four continents to serve the growing demand of merchants, but also strengthened its management team both in the US and in Europeat the same time that increased its workforce to exceed the barrier of 1,700 employees in 19 countries.
“Essentially, we help businesses deal with the complexity of moving money around the world, whether it’s fiat currency or bridging to Web3”says the CEO and founder of Checkout.com, Guillaume Pousaz.
“Combining over the last decade an elegant technological proposal with industry expertise and an attitude of always going one step further in service, we have created strong agreements with some of the most innovative companies in the world. Our Series D is validation of that work, although we are still at ‘chapter zero’ of our history, and it will also drive our efforts to seize the huge untapped opportunity that lies ahead.”
To the conquest of the United States
Taking into account that The US is one of the largest markets in the world when it comes to e-commerceCheckout.com has made a strong investment in its technological infrastructure in that country, today offering a complete proprietary payment processing platform within said territory.
Checkout.com is presented as one of the few providers within the US that provides a fully cloud-based platform and what is it directly connected to local networks in all key geographies and working for the main alternative payment methods.
“We have long been addressing significant service demand in the US market, and with the D-Series we are redoubling our commitment to scaling our platform, partnerships and products for our customers here.“, adds the CFO of Checkout.com Céline Dufétel.
“Similar to our focus on EMEA, we will continue to focus on large companies, especially in fintech, software, food delivery, travel, e-commerce and cryptocurrencies. We want to help our US customers grow domestically and internationally and help our non-US customers break into this market. We see great potential, and expect to grow our workforce by 200% in North America this year alone.” he claimed.
Stay informed of the most relevant news on our news channel