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Checkout.com triples valuation on $450 million fund raise

Checkout.com triples valuation on $450 million fund raise

Online payments firm Checkout.com has tripled its valuation to $15 billion following a Series C funding round, making it the fourth largest fintech business globally and Emea’s most valuable venture-backed business.

The company, which provides merchants with a single platform combining payments, fraud monitoring and analytics, has raised $450 million in a fundraising led by Tiger Global Management, effectively tripling its valuation from its last funding round in June 2020.

The investment comes on the back of a series of impressive growth stats, which includes a tripling of payments processing volumes and the addition of 500 new merchant accounts.

Alongside traditional large-scale retailers, Checkout.com also provides the payments processing backbone for a host of innovative fintechs, including the likes of Klarna, Revolut, Transferwise, Coinbase, and eToro.

With digital payments on a tear in the face of the Coronavirus pandemic, Checkout.com intends to use its strong balance sheet to chase down the likes of market leaders like Adyen and Stripe.

Having doubled its workforce to 1000 staff members over the past year, the company intends to hire an additional 700 people across all locations in 2021, with big plans for expansion across the US, including the opening of new offices in New York and Denver, to complement its current San Francisco operations.

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