Checkout raises new funds to consolidate its position

The British unicorn specialising in payment Checkout.com has started 2022 as it had started 2021, by carrying out a major fundraising operation. This operation should enable it to reach a record valuation and to consolidate its dominance on its market.

FACTS

• Checkout.com has just closed a new round of funding for a historic $1 billion. The FinTech has raised a total of $1.8 billion in its history, reaching a valuation of $40 billion.

• This fundraising is part of a Series D round.

• Its main investors are Altimeter, Dragoneer, Franklin Templeton, GIC, Insight Partners, Qatar Investment Authority, Tiger Global and Oxford Endowment Fund. Several historical FinTech investors have also renewed their financial support.

CHALLENGES

• Profitable for several years, FinTech intends to use its new funds to achieve three clear objectives.

• Conquering the US: Checkout.com's goal is no longer just to remain a reference in the UK but to establish itself as a key player worldwide. And the Unicorn's priority seems to be the US market, where it wants to consolidate its offer in 2022.

• Densifying its offerings: The announcement of this fundraising is also the opportunity chosen by Checkout.com to announce the upcoming launch of new solutions dedicated to marketplaces.

• Enhance its Web 3.0 expertise: The last objective that Checkout.com has set itself following its latest round of funding is to adapt to changes in online usage and to strengthen its leadership in this area, notably by focusing on the emergence of NFTs and the Metaverse.

MARKET PERSPECTIVE

• As a reminder, Checkout.com is at the origin of a payment platform, managing the acceptance of transactions, their processing and the detection of fraud.

• Checkout.com estimates that it has processed hundreds of billions of dollars in payments on behalf of some of the world's largest merchants. Among the Unicorn's clients are Netflix, Grab, Pizza Hut, TikTok, Siemens and Sony, but also other well-known FinTechs such as Klarna, Qonto or Revolut and crypto players like Coinbase, Crypto.com, FTX and MoonPay.

• Its processed transaction volume tripled in 2021, for the third year in a row.