Altimeter, Dragoneer et al. in USD 1bn round for Checkout.com

Further investors in the round included Franklin Templeton, Singaporean sovereign wealth fund GIC, Insight Partners, the Qatar Investment Authority, the Oxford Endowment Fund, Tiger Global, and another large west-coast mutual fund-management firm. Existing investors that have also participated in the round include Blossom Capital, Coatue Management, DST Global, Endeavor Catalyst and Ribbit Capital.

The latest funding round will further strengthen the balance sheet of the company and drive growth plans for the US market, while continuing to enhance its proprietary technology and Web3, according to a press release.

Mergermarket reported in October 2021 that Checkout.com was evaluating M&A opportunities to buy fintech companies that offer payment services, as it will add to their existing offering and provide them with additional payment volumes. The company's executive told Mergermarket at the time that they have raised USD 830m over three equity financing rounds. In June 2021, Checkout.com acquired Icefire, a Estonia-based software development company for an undisclosed sum. In May 2020, it acquired startup Pin Payments Australia; and ProcessOut, a France-based payment analytics and routing platform.

Last year saw payment platforms like UK-based Worldremit, Rapyd and PPro raise significant rounds, as did Sweden-based Klarna.

Several unicorns have been created in recent years as a result of growth capital investments, including Germany-based grocery delivery startup Flink, which closed on USD 750m in a Series B round in December 2021 valuing it at USD 2.85bn, as reported; fellow German delivery startup Gorrillas, which raised nearly USD 1bn in a Series C round led by Delivery Hero valuing the company at USD 2.1bn; France-based online bank Qonto, which secured EUR 486m in a Series D led by Tiger Global and TCV to reach a valuation of EUR 4.4bn in January 2022; Mollie, a Netherlands-based e-payments software developer that secured USD 800m in a Series C led by Blackstone Growth to achieve a valuation of USD 6.5bn in June 2021; and Worldremit, a UK-based cross-border payments platform, which secured USD 29m in a Series E round to achieve a valuation of USD 5bn in August 2021. 

Previous funding
In May 2019, Insight Partners and DST Global led a USD 230m Series A round. GIC, Endeavor Catalyst and Blossom Capital also participated in the round.

In June 2020, Coatue led a USD 150m Series B round with existing investors DST, Insight, Blossom and GIC participating.

Tiger Global led a USD 450m Series C round in January 2021 for the company, which reached a post-money valuation of USD 15bn.

Company
Checkout.com is headquartered in London and was founded in 2012. It serves fintech companies by providing a cross-border payment platform for digital commerce. The company provides payments in more than 150 currencies, and also in-country acquiring and fraud filters, through its API-based platform. Checkout.com employs 1,700 people across 19 offices globally, as stated in a press release.

People
Checkout.com – Guillaume Pousaz (CEO); Ott Kaukver (chief technology officer); Céline Dufétel (New York CFO).

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