Checkout.com raises 206 million euros
Checkout.com, a London-based provider of online payment solutions has raised 230 million dollar (206 million euros). It’s Europe’s largest fintech Series A round ever. It’s the first time the payment solutions provider is taking funding from outside investors.
The funding round was led by Insight Partners and DST Global, while GIC, Blossom Capital and other strategic investors also participated in the round. With the money, Checkout.com wants to continue its growth in Europe, the US and the Middle East. It also wants to expand further into Asia and Latin America.
‘Crucial to find partners that share our vision’
“We have been fortunate to have some of the world’s leading investors approach us for some time but our focus has remained on building the very best suite of products we can for our merchants on four continents”, founder Guillaume Pousaz explains. “Having built a sustainable business, it was crucial to find partners that share our vision of how enterprise businesses will consume financial services in the future.”
‘Online payments the source of most financial services’
Deven Parekh, managing partner at investor Insight Partners, who will take a seat on the board, also had something to add: “The payments world is changing rapidly and online payments will be the source of most financial services in future. We are confident that Checkout.com will attract a great proportion of those transactions because its product and unified platform provide the full range of services that growing enterprises require.”
Checkout.com offers a cross-border payment solution for ecommerce companies. It offers access to domestic payment methods, major credit and debit cards, online banking, PayPal, Apple Pay and other e-wallets. Among its customers are major brands, such as Samsung, Getty Images, Deliveroo and Patreon.