Global payments processor Checkout.com on Wednesday announced a $1 billion Series D funding round, bringing the total to date to $1.8 billion and the company’s valuation at $40 billion.
The primary investors in the latest round are Altimeter, Dragoneer, Franklin Templeton, GIC, Insight Partners, Qatar Investment Authority, Oxford Endowment Fund and more.
big news
We have just closed our $1bn Series D funding round at a valuation of $40 billion. This will help drive our US growth, our platform development, and the exciting work we do in Web3
Read more from our founder and CEO, @GuillaumePousaz https://t.co/KiqE2Q5NGD pic.twitter.com/PEXmtN2Xkv
— checkout.com (@checkout) 12 January 2022
According to the statement, the UK-based startup plans to use the funds to scale operations in the US market, further develop its payments platform, and “consolidate leadership in Web3.” Guillaume Pusaz, Founder and CEO of Checkout.com, acknowledged:
“At our core, we help enterprise merchants navigate the complexity of moving money around the world, whether in fiat currency or bridging the Web3 gap.”
related: British payments firm Checkout.com joins Libra Association
In addition to serving e-commerce and service merchants such as Netflix, Pizza Hut and Sony, Checkout.com also powers large crypto players including Coinbase, Crypto.com, FTX and Moonpay. Its modular products are also used by Novi, a blockchain-based wallet from fan token provider Socios.com and Meta. The company also claims to have beta-tested a proprietary solution for merchants to settle transactions in digital currencies.
Pusaz said the company is still in “chapter zero of our journey” to bridge fiat and cryptocurrency. And according to Checkout.com’s 2022 E-commerce Trends Report, payment diversification strategies are “critical” if brands want to convert more sales, especially as merchants increasingly adopt digital wallet integrations, QR code scanners and even more. that offer to sell their own NFTs.
