Global payments processor Checkout.com announced a $ 1 billion Series D funding round on Wednesday, for a total of $ 1.8 billion raised to date and a company valuation of $ 40 billion.
Among the top investors in the latest round are Altimeter, Dragoneer, Franklin Templeton, GIC, Insight Partners, Qatar Investment Authority and Oxford Endowment Fund, among others.
Big news
We’ve just closed our $ 1bn Series D funding round at a $ 40 billion valuation. It will help drive our US growth, our platform evolution, and exciting work in Web3
Read more from our founder and CEO, @GuillaumePousaz https://t.co/KiqE2Q5NGD pic.twitter.com/PEXmtN2Xkv
– Checkout.com (@Checkout) January 12, 2022
The UK-based startup plans to use the funds to expand its operations in the US market, further develop its payments platform and “strengthen leadership in Web3,” according to the statement. Checkout.com founder and CEO Guillaume Pousaz acknowledged:
“At our core, we help corporate merchants navigate the complexity of moving money around the world, whether it’s in fiat or bridging to Web3.”
In addition to serving e-commerce merchants and services such as Netflix, Pizza Hut, and Sony, Checkout.com also serves large cryptocurrency companies, such as Coinbase, Crypto.com, FTX, and MoonPay. Its modular products are also used by fan token provider Socios.com and Meta’s blockchain-based wallet Novi. The company also claims to be beta testing its own solution for merchants to settle transactions in digital currencies.
Pousaz added that the company is still in “chapter zero of our journey” to bridge the gap between fiat currencies and cryptocurrencies. And according to Checkout.com’s 2022 Ecommerce Trends Report, payment diversification strategies are “vital” if brands want to convert more sales, especially as traders increasingly offer digital wallet integrations, code scanners. QR and even sell your own NFTs.