Checkout.com, a leader in global payment solutions announced a $150 million Series B funding round. With this funding, it has tripled the value of the online international payments business and has become one of the most valuable global Fintechs. The growing demand for online payment solutions owes to this $5.5 billion funding. In May ’20, Checkout.com noticed a 250 percent increase in online transactions, and the global lockdown situation further accelerates its growth and business as the businesses are moving online.
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Funding Details and Future Plans
The funding was led by Coatue, and existing investors, including Insight Partners, DST Global, Blossom Capital, and Singapore’s Sovereign Wealth Fund, GIC. Checkout.com plans to use these funds to increase its available cash above $300M and invigorate its balance sheets. Checkout.com’s upcoming advanced Payouts solution is focusing on improving the duration of payment settlement. Checkout.com has raised a $230 million funding in Series A round in May 2019.
Guillaume Pousaz, CEO and Founder said –
“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. At Checkout.com, we’ve built a technical architecture that enables pioneers to reinvent industries and redefine their relationship with consumers. Now more than ever, we are confident of our mission to build the connected payments that businesses deserve.”
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Kris Fredrickson, Managing Partner at Coatue, said –
“We have followed the business’ explosive growth and are inspired by Guillaume’s vision for the future of payments. We’re incredibly excited to partner for the next phase of the Checkout.com journey.”
Top Payment Solutions Providers:
- Venmo
- Square Payments
- Amazon Pay
- Stripe Payments
- Braintree Direct
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