London-headquartered payment solution provider Checkout.com听has announced听a听150m听(拢121m)听funding round, tripling听its听value.听听听
The Series B funding was led by听Coatue, along with participation from existing investors, including Insight Partners, DST Global, Blossom Capital, and Singapore’s Sovereign Wealth Fund, GIC.听听
It will use these funds to strengthen its balance sheet, bringing available cash to over $300m.听听
The firm听will also invest in the development of new products, including its upcoming ‘Payouts’ solution and the capability to accelerate settlement times.听听
The fundraise follows听a record-breaking $230m Series A in May 2019, which was Europe’s largest听FinTech听Series A round.听
Checkout.com听said it听has been profitable since 2012.听The firm,听which now has听a听$5.5bn valuation, reports its听online transaction numbers听between May 2019 and 2020 have grown听by 250%.听听
It now听processes over 150 currencies and offers access to all international cards and popular local payment methods to merchants through its proprietary integrated platform.听
The eight-year-old company, which employs over 750 staff across 13 offices,听has now added FinTech firms such as听Revolut, Robinhood,听Klarna听and听Remitly听to its books.听
CEO and founder Guillaume听Pousaz听said听of the funding: “I’m thrilled to welcome听Coatue听to our cap table.听
鈥�As meaningful investors in late-stage tech companies such as Instacart,听DoorDash,听Bytedance听and Chime they bring a wealth of experience in building world-class businesses driven by operational excellence. They share our vision for a future of connected payments which made them an obvious choice as partners for us.听
” At Checkout.com, we’ve built a technical architecture that enables pioneers to reinvent industries and redefine their relationship with consumers.”听
Kris Fredrickson, Managing Partner at听Coatue,听added: “We have followed the business’ explosive growth and are inspired by Guillaume’s vision for the future of payments.”听