Checkout.com, a London-based payments solutions provider, announced that it closed a $450 million Series C fundraising round giving it a post-money valuation of $15 billion.
The Series C was led by Tiger Global Management, LLC, a New York-based technology investor. Greenoaks Capital also joined the round along with participation from existing investors Insight Partners, DST Global, Coatue Management, Blossom Capital, Endeavor Catalyst, and Singapore’s Sovereign Wealth Fund GIC.
While Checkout.com‘s profits from current operations will continue to be reinvested to power future growth, the new funding will be used to further grow its balance sheet and drive new innovative opportunities.
With a total of $830 million raised within the last two years, it allows for continued strategic investments and product developments, like the Checkout.com Payouts solution which saw exponential growth over the last year.
In addition to the funding announcement, Checkout.com is announcing the opening of its New York City office. The company first launched in the U.S. in 2017 and has operations in San Francisco. Together, the bicoastal offices will power the organisation’s ability to meet the growing demand in the U.S. for Connected Payments™ solutions, as Checkout.com increases its focus on serving U.S.-based enterprises in domestic, global and cross-border payments. The company is also announcing an office in Denver.
Globally, Checkout.com will hire an additional 700 people across all its locations in 2021.
In June 2020, Checkout.com announced its Series B which valued the business at $5.5 billion and was led by technology fund Coatue Management. In 2020, it also announced the acquisitions of ProcessOut and PinPayments, as well as a strategic investment in Thunes.
Guillaume Pousaz, CEO and Founder of Checkout.com said:
“Payments affect everything from the customer journey to a business’s ability to enter new markets or launch new products. This latest fundraise reflects our market-leading position and the size of our aspirations as we accelerate in our mission to empower merchants to build better products, drive more revenue and create innovative business models by reimagining interactions with financial services.
Our new investors bring a wealth of experience across payments, technology and scaling companies – crucial knowledge for the next stage of our growth, as we continue to build our vision for the future of Connected Finance.”
Featured image credit: edited from Unsplash
This article first appeared on fintechnews.ch