On the May 4, Checkout.com, A “Online payment solution provider” based in London, UK, recently announced on its official website that it had completed 230 million of dollars in A-round financing. The round was led by Insight Partners and DST Globa, with participation from GIC, Blossom Capital, Endeavor Catalyst and other strategic investors.
Checkout.com said it would use the money to continue its rapid growth in Europe, the us and the Middle East, and to expand further into Asia and Latin America. After the financing, Deven Parekh, managing director of Insight Partners, will take a seat on the board of Checkout.
Checkout.com was founded in 2012 to help target customers accept more payments globally through a single integration. The technology company works with companies around the world to optimize payments using real-time data. Checkout’s unified global payment processing platform provides domestic sourcing, related payment methods, cross-regional features, fraud filters and reporting capabilities through an API.
Checkout can help companies in Europe, the United States and the Middle East achieve faster, more reliable processing solutions in more than 150 currencies.
Checkout has direct access to Visa, MasterCard, American Express and all major international cards, as well as popular alternative payment methods and local mainstream payment methods.
According to Checkout’s official website, “Checkout.com’s solution currently has 100% original technology”. The company has a single integrated platform with built-in fraud management tools, which enables it to go deep into the payment industry chain process and make its transactions completely transparent in its service chain.
At present, Checkout’s corporate customers mainly include Samsung, Easygroup,Getty Images,Deliveroo,Transferwise,Patreon and Virgin Active and so on.
“Financing will help us increase the speed with which new products are introduced to meet the increasingly complex needs of businesses, the performance of payments and data streams is a key factor in business success. Our goal remains to help our customers grow their business by providing them with the solutions and insights they need to win market share. ” said Guillaume Pousaz, founder of Checkout.
Checkout’s financing attracted attention from the global fintech industry because its $230 million series A financing broke the largest fintech series A financing in Europe. The other is that Checkout has been favored by the world’s top investment institutions in the first place, particularly Insight Partners and DST Global.
The company competes with on-demand payment companies Stripe inc. and Adyen NV. Stripe was valued at more than $22 billion earlier this year, and Adyen’s stock has tripled since it went public in June 2018.