Checkout.com becomes most valuable fintech in EMEA region
Following a US$450m Series C funding round, London-based Checkout.com has become the most valuable fintech in EMEA and fourth in the world.
The company is now worth approximately $15bn. This is almost triple its last valuation after its Series B round in June 2020, which stood at $5.5bn.
The investment was led by New York firm Tiger Global Management, a tech specialist whose portfolio includes luminaries such as Facebook, LinkedIn and Spotify.
Checkout.com offers customers the chance to unlock revenue through connected payment services on a unified platform with truly global coverage. Currently facilitating over 150 currencies and the most popular payment methods, the company claims to offer “unrivalled data and insight”.
“Payments affect everything from the customer journey to a business’s ability to enter new markets or launch new products,” said Guillaume Pousaz, CEO and Founder.
“This latest fundraise reflects our market-leading position and the size of our aspirations as we accelerate in our mission to empower merchants to build better products, drive more revenue and create innovative business models by reimagining interactions with financial services.
“Our new investors bring a wealth of experience across payments, technology and scaling companies – crucial knowledge for the next stage of our growth, as we continue to build our vision for the future of Connected Finance.”
Expanding in North America
In addition, Checkout.com made the dual announcement that it is opening two new offices in the US to complement its existing base in San Francisco: New York City and Denver. This will go hand-in-hand with hiring 700 new staff across all locations in 2021.
Despite making great progress so early in the year, the company is not resting on its laurels; Checkout.com has put itself in the lead, but, with the rapid development of digital commerce still ongoing, it will need to solidify that position. Scott Shleifer, Partner at Tiger Global Management, said:
“We are excited to partner with Guillaume and Checkout.com as they continue to build an innovative global payments and financial services platform trusted by leading internet companies.
“We believe the shift to digital commerce is still in the early stages, and Checkout.com’s focus on developing a best-in-class technology platform has positioned them to be a leader in the industry for years to come.”
Image source: Checkout.com
