Checkout.com has announced the completion of a $1 billion Series D funding round, sending its valuation to $40 billion.
The cloud-based end-to-end payments platform was established in 2012 and has expanded its operations and valuation since.
The funding round was led by leading investors such as the Qatar Investment Authority, Tiger and Oxford Endowment Fund, Insight Partners, GIC, Franklin Templeton, Altimeter, and Dragoneer.
Other investors that participated in the round include DST Global, Coatue Management, Ribbit Capital, Endeavor Catalyst, as well as Blossom Capital.
Checkout To Unlock The Massive Untapped Opportunities In The Market
Founder and Chief Executive Officer of Checkout, Guillaume Pousaz, commented on the funding. He noted that the firm is using an “extra-mile” approach with an elegant technology stack to expand its operational potential. With the additional funding, it wants to consolidate its past efforts over the past decade and collaborate with some of the most innovative companies in the world.
“Our Series D is validation of that work, but given we’re still in ‘chapter zero’ of our journey,” Pousaz stated. He added that the funding will help the company to unlock the huge untapped opportunities in the market. The company’s main goal is to enable companies to scale through the complexity of moving funds around the world, whether in closing the gap to Web3 or moving fiat currency.
Checkout Reports A Triple Increase In Payment Volume
The funding round is far higher than the Series C funding round, which raised $450 million last year. Following the Series C funding round, the company’s valuation was $15 billion. However, the latest valuation means Checkout has increased its valuation by over 167%.
The company also reported a triple increase in its payments volumes last year. This makes it the third straight time it has increased its volume year-over-year. This means that the payments volume has increased by at least 27 times since 2019.
Checkout has some of the world’s top brands as customers. Some of them include Siemens, Pizza Hurt, Sony, and Netflix. Additionally, the company also does business with top names in the crypto industry, including Coinbase and Crypto.com. Following the funding, the company hopes to expand its operations in North America.
