Checkout.com raises 370 million euros
London fintech company Checkout.com has raised 450 million dollars (370 million euros) in a Series C round. The company is now valuated at over 12 billion euros and is looking to expand its business further abroad.
The company, with its headquarters in the United Kingdom, says it’s now the most valuable venture-back business in the EMEA region and the fourth largest fintech globally. It will open offices in New York City and Denver to meet the growing demand from US companies.
Checkout.com is the 4th largest fintech worldwide.
Tripling of payment processing volume
The payments company raised the 370 million euros in a Series C round that was led by Tiger Global Management and with participation from Greenoaks Capital and all other existing investors. The investment follows after a tripling of its payment processing volume year-on-year in 2020. Two years ago, in May 2019, the company raised 206 million euros.
Over 500 new enterprise customers
It added over 500 new enterprise customers in the last twelve months. Among them are major brands like Coinbase, Pizza Hut, H&M, Grab, Klarna, Farfetch, and Telegram.
Checkout.com was founded in 2009. Back then, it was called Opus Payments, the name change took place three years later. The online platform enables companies to process and accept cross-border payments from different sources, including credit and debit cards, online banking, PayPal and other e-wallets. It can be seen a the UK rival to Dutch payment firm Adyen.