Checkout.com rings up Europe’s largest ever fintech Series A round
Global payment solutions provider Checkout.com has raised $230 million in a record Series A funding round for Europe, reports Jane Connolly.
The round – also reportedly the third largest fintech Series A round globally – was led by growth investors Insight Partners and DST Global. Singapore’s sovereign wealth fund GIC, Blossom Capital, Endeavor Catalyst and other strategic investors also participated.
Deven Parekh, managing partner at Insight Partners and an early investor in Twitter, Alibaba and JD.com, will join the board.
Checkout.com enables payments across all geographies and channels, and has already seen rapid growth in Europe, the US and the Middle East. The London-based company will use the funding to continue this growth and further expand into Asia and Latin America.
Through its single, unified integrated platform, the fintech offers direct access to domestic acquiring across payment methods and geographies, including all major credit and debit cards, online banking, PayPal, Apple Pay and other eWallets. It also provides fraud management tools, analytics and reporting features.
Guillaume Pousaz, founder of Checkout.com, says: “Having built a sustainable business, one hire at a time, it was crucial to find partners that share our vision of how enterprise businesses will consume financial services in the future. We have anticipated this from our early days and have designed Checkout.com’s platform from the outset so that we can easily deliver incremental services to our customers as the company expands its offering.”
Checkout.com – which counts giants such as Samsung, Deliveroo, Transferwise and Virgin Active among its customers – employs 345 staff and processes more than 150 currencies.