Checkout.com triples its valuation to $5.5bn and closes $150m Series B round

Payment solution provider Checkout.com has today announced the closure of a $150m Series B funding round.

The funding round follows on from its record $230m Series A which it raised just over a year ago.

Following the closure of the round, Checkout.com’s valuation now sits at $5.5bn, triple its valuation last year and putting it at one of the joint-most valued European fintechs—putting it on par with fellow fintechs, Revolut and Klarna.

The Series B was led by Coatue, along with participation from existing investors, including Insight Partners, DST Global, Blossom Capital, and Singapore’s Sovereign Wealth Fund, GIC.

Checkout.com says its transaction volumes in May 2020 were up 250 per cent on May 2019, as more and more businesses moved online.

Guillaume Pousaz, CEO and founder of Checkout.com, said: “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,” he added.

The fintech now processes over 150 currencies to all international cards and employs over 750 staff in 13 countries and has added more than 500 merchants to its books in the last 12 months, including the likes of Revolut,Robinhood and Klarna.

In February this year, Checkout.com made its first acquisition following its Series A round, acquiring French payment company ProcessOut.