The company intends to use the funding to pursue growth in the US market, enhance its technology platform and solutions, and strengthen its position in Web3
Checkout.com raises $1bn in Series D round. (Credit: Obsahovka from Pixabay.)
API-based payment solutions platform Checkout.com has secured $1bn in a Series D funding round that valued the company at $40bn.
The funding round saw participation from investors including Altimeter, Dragoneer, Franklin Templeton, GIC, Insight Partners, the Qatar Investment Authority, Tiger Global, Oxford Endowment Fund, and a large west coast mutual fund.
Established in 2012, Checkout.com provides a full-stack of online platform that simplifies payments processes for large global enterprise merchants.
The company intends to use the funding to improve its balance sheet, pursue growth in the US market, enhance its technology platform and solutions, and strengthen its position in Web3.
Checkout.com founder and CEO Guillaume Pousaz said: “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.”
Checkout.com serves large-scale ecommerce merchants, and large crypto players.
In the last year, the company has opened new offices in six countries across four continents to address rising merchant demand, and has closed a Series C financing round last year.
Also, it has expanded its leadership team in the US and Europe with a new CFO, CHRO, CMO, CPO, CRO and CTO, while extending its employee base in 19 countries.
Checkout.com has invested in domestic technology infrastructure, and provides a complete end-to-end payment processing platform in the US.
It aims to launch its solution to marketplaces and payment facilitators, later this year, after testing with multiple global merchants over the past several months.
The new solutions include identity verification technologies, split payments and treasury-as-a-service, along with existing capabilities of Payouts.
Furthermore, the company is privately beta-testing an advanced solution to settle transactions for merchants using digital currencies.
Checkout.com New York CFO Céline Dufétel said: “We have long-faced substantial demand to serve the US market, and with our Series D we’re doubling down on our commitment to scaling our platform, partnerships and products for customers here.”
“Much like our approach in EMEA, we will maintain our focus on the enterprise, especially fintech, software, food delivery, travel, e-commerce and crypto merchants.
“We’re looking to help our US customers grow domestically and internationally, and to help our non-US customers expand into the market here.”