By Aisling Finn on Wednesday 26 February 2020
ProcessOut’s 14-strong team will join Checkout.com’s 600 global employees.
Checkout.com, the London-based global payment provider, has announced today that it has acquired French payment company ProcessOut in its first acquisition.
The payment solution provider raised a record-breaking Series A funding round of $230m in 2019, Europe’s largest fintech Series A round ever.
Using Checkout.com companies can make payments in more than 150 currencies across all geographies and channels, including all major credit and debit cards, online banking, PayPal, Apple Pay and other eWallets.
The startup uses proprietary technology on its platform to also provide fraud management tools, analytics and comprehensive reporting features.
Founded in 2015 by six French entrepreneurs, ProcessOut’s platform enables users to automatically route transactions to the best payment provider reducing costs and providing a dashboard for businesses to monitor their payment capabilities.
Guillaume Pousaz, founder and CEO of Checkout.com, said: “With over $20bn worth of transactions analyzed in 2019, ProcessOut fits in this category and as such we are delighted to make them our first acquisition.”
“Combining their expertise and features with our platform will allow us to offer our global merchants a deeper set of actionable insights to improve their acceptance rates and maximize the cost efficiency of their payments.”
In 2019, over $20bn transactions were analysed by the ProcessOut platform and more than 10% of all online transactions in France were touched by ProcessOut’s technology last year.
ProcessOut’s 14-strong team will join Checkout.com’s 600 employees across 11 offices globally.