Checkout.com hits $5.5 billion valuation
UK-based PayTech venture Checkout.com has tripled its valuation to $5.5 billion following a $150 million Series B funding round.
Led by Coatue Management, this comes one year after the payments processor raised a record early funding round for a European FinTech company, pegging its valuation at about $2 billion.
It says it will use these funds to strengthen its balance sheet, bringing available cash to over $300 million, as well as invest in the development of new products.
CEO and Founder, Guillaume Pousaz, says: “I’m thrilled to welcome Coatue to our cap table. As meaningful investors in late-stage tech companies such as Instacart, DoorDash, Bytedance and Chime they bring a wealth of experience in building world-class businesses driven by operational excellence. They share our vision for a future of connected payments which made them an obvious choice as partners for us.”
“The way money moves into and out of businesses is changing rapidly. I believe that by solving financial complexity, you can radically unlock innovation, starting with digital payments. We’ve built a technical architecture that enables pioneers to reinvent industries and redefine their relationship with consumers.”
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