Checkout.com has announced that it has raised $ 450 million Series C round with Tiger Global Management leading the round, Greenoaks Capital along with other existing investors including Insight Partners, DST Global Coatue Management, GIC, Blossom Capital, and Endeavor Catalyst also participating.
This funding follows a $150m Series B funding in June 2020 and another $230m Series A in 2019 tripling the valuation of the startup to $15 billion(post-money valuation). This, according to the startup, makes it the fourth largest fintech company globally and EMEA’s most valuable venture-backed business.
The company enables merchants of different sizes to accept online payments and has a significant presence in North Africa and the Middle East.
Guillaume Pousaz, founder and CEO of Checkout.com, said, “Payments affect everything from the customer journey to a business’s ability to enter new markets or launch new products. This latest fundraise reflects our market-leading position and the size of our aspirations as we accelerate in our mission to empower merchants to build better products, drive more revenue and create innovative business models by reimagining interactions with financial services.”
“Our new investors bring a wealth of experience across payments, technology and scaling companies – crucial knowledge for the next stage of our growth, as we continue to build our vision for the future of Connected Finance,” he added.
Scott Shleifer, Partner at Tiger Global Management said, “We are excited to partner with Guillaume and Checkout.com as they continue to build an innovative global payments and financial services platform trusted by leading internet companies. We believe the shift to digital commerce is still in the early stages, and Checkout.com’s focus on developing a best-in-class technology platform has positioned them to be a leader in the industry for years to come.”
“With a total of $830 million raised within the last two years, Checkout.com’s readily available cash represents one of the strongest balance sheets across all global fintechs. This further strengthens the company’s resilience as a regulated entity in numerous markets and as the financial partner to its merchants. It also allows for continued strategic investments and product developments, like the Checkout.com Payouts solution which saw exponential growth over the last year,” noted the statement.
In addition to the series C funding announcement, Checkout.com will be opening a new office in New York City.