London-based global payments processor Checkout.com has raised $1 billion in Series D funding at a $40 billion valuation. The funding will help drive three key initiatives, including U.S. market growth, continued evolution of the technology platform and Web 3 efforts.
“We have long-faced substantial demand to serve the U.S. market, and with our Series D, we’re doubling down on our commitment to scaling our platform, partnerships and products for customers here,” Checkout.com Chief Financial Officer Céline Dufétel said in the announcement post.“Much like our approach in EMEA (Europe, Middle East and Africa), we will maintain our focus on the enterprise – especially fintech, software, food delivery, travel, e-commerce and crypto merchants. We’re looking to help our U.S. customers grow domestically and internationally, and to help our non-U.S. customers expand into the market here,” Dufétel added, noting that the number of North American employees at her company is expected to triple this year.
Over the past year, Checkout.com has opened new offices in six countries across four continents and expanded its executive team in the U.S. and Europe. The company now has more than 1,700 employees in 19 countries.The funding round more than doubled Checkout.com’s valuation from the Series C round a year ago. Primary investors included Altimeter Capital, Dragoneer Investment Group, Franklin Templeton, GIC, Insight Partners, the Qatar Investment Authority, Tiger Global and the Oxford Endowment Fund, among others.Checkout.com offers an online platform that simplifies payments processing for global online merchants. Customers include Netflix, Pizza Hut and Sony, as well as crypto companies Coinbase, Crypto.com, FTX and MoonPay.Checkout.com will continue to focus on strengthening its position in the Web 3 sector, the company said. The company’s modular products and platform are cused by fan token providers like Socios.com, and blockchain-based wallets like Meta’s much delayed Novi. Checkout.com is also beta testing a system to settle transactions for merchants using digital currencies.