Checkout.com has been crowned Europe鈥檚 most valuable unicorn after revealing Series C investment.听
The mammoth听拢330 million round听trebled the London FinTech鈥檚 valuation to a staggering听拢11 billion.听
Tiger Global Management and听Greenoaks听Capital led the round, joining Insight Partners, DST Global, Coatue Management, GIC, Blossom Capital and Endeavor Catalyst as investors in听the听payments听tech provider.听
The firm鈥檚 previous funding rounds were听a听$150m Series B in June 2020 and听a听$230m Series A in 2019.听It has been profitable since 2012.听
鈥�The balance sheet strength created by these collective fundraises, together with our longstanding profitability,听further strengthens the company’s resilience as a regulated entity in numerous markets and as the financial partner to its merchants,鈥� wrote听founder & CEO Guillaume听Pousaz听in a blog post.听
鈥�It also allows our business to continue to make strategic investments and drive innovative product developments, like the Checkout.com听Payouts听solution, which saw exponential growth in Europe over the last year, to ensure that we can deliver the future of digital payments for our merchants.鈥�听
In 2020听Checkout.com added 500 staff, taking its total team to over 1,000,听partly as a result of the acquisitions of Process Out and Pin Payments.听
鈥�2020 was an extraordinary year for many around the world including for our existing and new merchants who were forced, by virtue of the pandemic, to rapidly extend their global eCommerce capabilities,鈥� continued听Pousaz.听听
鈥�For some this meant revising business models, reassessing risk and rethinking how payments can play a crucial role in their听long–term profitability.听听听
2020 was also a year of incredible change for the payments industry听–听witnessing years of change in the space of months. During this听period听we onboarded 500+ new merchants and saw our global volumes triple as a result of new economic activity transacting online for the first time.听
鈥�These changes have confirmed our longstanding conviction in the trend to online purchasing and accelerated a growing business demand for transformative online payment solutions that perform across all geographies and channels.鈥�听听
Checkout.com鈥檚听payments solutions are used by听leading听FinTech and digital companies听including听Klarna and听Farfetch.听