Guillaume Pousaz/Checkout.com.
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Checkout.com to power The Hut Group’s many checkouts
The Hut Group is home to over 200 e-commerce brands, including the likes of MyProtein and Lookfantastic.
Checkout.com has been appointed payments provider by British e-commerce giant, The Hut Group (THG).
THG, which listed on the London Stock Exchange for £4.5bn back in September, is home to brands such as MyProtein, Lookfantastic, Glossybox and over 200 other online stores.
Guillaume Pousaz, founder and CEO of Checkout.com, said: “In another year of phenomenal growth for our business, I’m pleased to announce that THG has selected Checkout.com as a global payments partner.”
“THG’s large portfolio of consumer brands and its THG Ingenuity solution will plug into our connected payments platform, unlocking new revenue streams through payment optimisation. It’s yet another validation of our technology, which continues to drive the best performance on the market for merchants.”
Checkout.com has benefitted from the Covid-19-related online shopping boom, seeing its traffic increase throughout the year, with its transaction volumes in May 2020 leaping up by 250 per cent in May 2019.
John Gallemore, CEO of THG Ingenuity, added: “The partnership with Checkout.com comes at an important time in the e-commerce landscape, with an increasing number of brands expanding their D2C presence.”
“This collaboration will support THG brands and THG Ingenuity clients with their global growth strategies and adds further payment capabilities to our proprietary, end-to-end technology and operating platform, providing our customers with even more payment opportunities to suit their needs.”
In June 2020, Checkout.com tripled its valuation to $5.5bn after a $150m Series B, making it the second-highest valued fintech in Europe, tied in second place with digital banking service Revolut.
The fintech now processes over 150 currencies to all international cards and employs over 950 staff in 14 offices worldwide and has added more than 500 merchants to its books in the last 12 months, including the likes of Revolut,Robinhood and Klarna.
UPDATE 2020-12-18 - An earlier version of this article incorrectly listed John Gallemore as the CEO of The Hut Group, when he is in fact CEO of THG Ingenuity.
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