London-based payments venture Checkout.com has raised $230 million from investors including Insight Partners and DST Global, in what is Europe’s largest ever FinTech Series A round.
The company acts as a middleman between merchants and other payments companies, negotiating deals with the likes of Visa, Mastercard, Apple Pay, PayPal and UnionPay. It counts Samsung, Easygroup, Getty Images, Deliveroo, Transferwise, Patreon and Virgin Active amongst its customers.
Checkout.com says that it will use the funding to continue its growth in Europe, the US and the Middle East, with further expansion into Asia and Latin America. Tom Stafford, Managing Partner, DST Global, comments: “Payments are a critical component of any online business. With the digital payments market expected to grow to $6 trillion by 2021, we believe Checkout.com can expand rapidly through its technology-driven and customer-centric payments solution.”