Checkout.com raises another $150M, now valued at $5.5B

Published by Bikash on

Checkout.com, the UK #payments #startup, raises another $150M, now valued at $5.5B


Checkout.com mostly flew under the radar until 2019, when it tapped external investors for the first time to raise a $230 million #SeriesA round. That deal reportedly agreed over “handshakes” rather than term sheets gave the firm the coveted status of “unicorn,” with a $2 billion valuation.
Checkout.com raised the fresh cash in a #SeriesB round led by #Coatue, a technology-focused hedge #fund which has backed the likes of #food delivery firm #DoorDash and #TikTok owner #ByteDance. Existing #investors Insight Partners, DST Global, Blossom Capital and Singaporean sovereign wealth fund GIC also bought #shares in the round.
It means Checkout.com is now tied with #Swedish #ecommerce lender Klarna and #British digital bank Revolut as Europe’s most valuable #fintech start-up.
Checkout.com said it would use the additional capital to shore up its balance sheet and #invest in new products. The #company made its first two #acquisitions this year, snapping up #French start-up ProcessOut and #Australian firm Pin Payments.
The company says it has got a boost in recent months from the #coronavirus #pandemic, which has forced many #businesses to move their #operations #online.

Categories: Funding

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