- Checkout.com named as one of the most valuable fintechs globally
- The profitable payments business adds 500+ new enterprise customers including 
Grab, Revolut, Careem, Glovo, Robinhood, Farfetch, Klarna and Remitly
- It saw a 250% boom in online transactions between May '19 and May '20 
- Societal shift from offline to online commerce accelerates, fueling business 
growth

Leading global payment solution provider Checkout.com becomes one of the most 
valuable fintechs globally. Today the company announces a $150m Series B 
funding round, tripling the value of the online international payments 
business. The $5.5bn valuation reflects a growing business demand for 
transformative online payment solutions that perform across all geographies and 
channels. Checkout.com's online transaction numbers had already increased by 
250% comparing May '19 and May '20. With an exclusive focus on online payments, 
global lockdowns have further accelerated Checkout.com's growth as businesses 
have rapidly pivoted online.

The Series B funding was led by Coatue, along with participation from existing 
investors, including Insight Partners, DST Global, Blossom Capital, and 
Singapore's Sovereign Wealth Fund, GIC. Unlike many other rapidly growing 
businesses, Checkout.com has been profitable since 2012. It will use these 
funds to further strengthen its balance sheet, bringing available cash to over 
$300m. Checkout.com will also invest in the development of new innovative 
products, including its upcoming advanced Payouts solution and the capability 
to accelerate settlement times. The Series B fundraise follows a 
record-breaking $230m Series A in May 2019, which was Europe's largest fintech 
Series A round of funding ever. 

The eight-year-old London-headquartered company already powers many of the 
world's leading enterprises, adding 500+ merchants to its books in the last 
twelve months including Grab, Revolut, Careem, Glovo, Robinhood, Farfetch, 
Klarna and Remitly. Checkout.com's proprietary technology offers enterprise 
businesses seamless and reliable global payment processing. The business offers 
direct access to domestic acquiring across payment methods and geographies. 
This is achieved through a single, unified integrated platform that gives 
enterprise businesses better performance and more control through advanced data 
features, fraud management tools, and comprehensive reporting.

CEO and Founder, Guillaume Pousaz said: "I'm thrilled to welcome Coatue to our 
cap table. As meaningful investors in late-stage tech companies such as 
Instacart, DoorDash, Bytedance 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. 

"The way money moves into and out of businesses is changing rapidly. I believe 
that by solving financial complexity, you can radically unlock innovation -- 
starting with digital payments. At Checkout.com, we've built a technical 
architecture that enables pioneers to reinvent industries and redefine their 
relationship with consumers. Now more than ever, we are confident of our 
mission to build the connected payments that businesses deserve."

Kris Fredrickson, Managing Partner at Coatue, said: "We have followed the 
business' explosive growth and are inspired by Guillaume's vision for the 
future of payments. We're incredibly excited to partner for the next phase of 
the Checkout.com journey."

Checkout.com processes over 150 currencies and offers access to all 
international cards and popular local payment methods to merchants through its 
proprietary integrated platform. Checkout.com employs over 750 staff across 13 
offices globally.

Checkout.com has been advised in this transaction by Wilson Sonsini Goodrich & 
Rosati. Checkout.com has acquired two businesses this year, ProcessOut in 
February and Australian start-up, Pin Payments, in May. The business also 
announces two people moves – Olivia Broderick joined as General Counsel and 
Mike Benchimol becomes COO.

About Checkout.com

Checkout.com empowers businesses to adapt, innovate, and thrive with the 
connected payments they deserve. The company's technology makes payments 
seamless. Flexible solutions, granular data, and instant insights help global 
enterprises launch new products in new markets and create outstanding customer 
experiences. They provide the fastest, most reliable payments in more than 150 
currencies, with in-country acquiring, world-class fraud filters and reporting, 
through one API. And they can accept all major international credit and debit 
cards, as well as popular alternative and local payment methods. Checkout.com 
launched in 2012 and now has a team of 750 people across 13 offices worldwide, 
offering local expertise where it's needed. Find out more at www.checkout.com

About Coatue

Coatue, founded by Philippe Laffont and Thomas Laffont in 1999, is one of the 
largest dedicated technology funds in the world with offices in New York, Menlo 
Park, San Francisco and Hong Kong. Coatue currently manages approximately $17 
billion in assets on behalf of individuals, endowments, foundations, and other 
institutional investors.

SOURCE: Checkout.com