London-based online payment solutions provider Checkout.com has hauled in a $1 billion in a Series D round that included investors Altimeter, Dragoneer, Franklin Templeton, GIC, Insight Partners, the Qatar Investment Authority, Tiger Global, the Oxford Endowment Fund, and another unnamed large US-based mutual fund management firm. Several of the company’s other existing investors including Blossom Capital, Coatue Management, DST Global, Endeavor Catalyst, and Ribbit Capital also participated in this round.
Given that checkout.com is positing positive revenue numbers, the new funding is slated to support an aggressive growth plan for the US market; the continued development of its proprietary technology platform and solutions; and pushing the envelope of its Web3 technologies offer.
Checkout, which provides some of the unpinning payments juice behind Klarna, Revolut, and Wise, to name a few, has seen a massive spike in demand over the course of the pandemic, with transaction volumes tripling in 2021 alone.
Now valued at $40 billion, checkout.com obtains the status of third most valuable private fintech in the world, and the most valuable private fintech in the UK.
Posting numbers like these, one might think that an IPO is looming, however, according to a statement in The Wall Street Journal, Checkout.com founder and CEO Guillaume Pousaz, "We’ll have a long life in the public market. We have a couple years before we get there.”