Fintech payment platform, Checkout.com announced that it has reached a $15 billion valuation having recently raised $450 million in Series C funding. This investment will be used to further scale its balance sheet, drive new innovative opportunities as well as power future growth.
The funding round was led by Tiger Global Management and joined by Greenoaks Capital as well as other existing investors such as Blossom Capital, Coatue Management, DST Global, Endeavor Catalyst, Insight Partners, and Singapore’s Sovereign Wealth Fund GIC.
Though headquartered in London, Checkout.com, from its Dubai office, actively serves the Middle East and North Africa (MENA), helping its clients across the entire Gulf regions and Egypt.
Milestones crossed over the years
Launched in 2012 by Guillaume Pousaz, Checkout.com has enjoyed enormous profits over the years. For instance, it raised its first external investment of $230 million in May 2019 which was renowned as the largest Series A at the time for a European fintech at a reported valuation of $2 billion.
2020, popularly known as the year of the pandemic, also witnessed Checkout.com clinched $150 million in Series B funding putting its valuation at about $5.5 billion.
Going by its latest value at $15.5 billion, the fintech giant claims to have emerged not only as the fourth-largest fintech globally but EMEA’s most valuable venture-supported business as well. From the foregoing, its valuation has grown eightfold in only about twenty months.
Commenting on what the latest funding round means for the company, founder and CEO of Checkout.com, Guillaume Pousaz said,
“Payments affect everything from the customer journey to a business’s ability to enter new markets or launch new products.
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,”, he added.
Scott Shleifer, Partner at Tiger Global Management expressed their excitement over the partnership with Checkout.com as the fintech company continues to build innovative and trustworthy global payment and financial services platforms.
In his opinion, no doubt shared by the rest of his partners, Checkout.com’s focus in developing a best-in-class technology platform will position it as a leader in the industry for years to come.
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