Checkout.com, the global payments processor, has announced a $1 billion Series D funding round, which marks a total of $1.8 billion raised to date and a $40 billion company valuation.
It has been reported that among the primary investors in the latest round are Altimeter, Dragoneer, Franklin Templeton, GIC, Insight Partners, the Qatar Investment Authority, the Oxford Endowment Fund, and more.
However, the UK-based startup plans to use the funds to scale operations in the US market, further develop their payment platform and “strengthen leadership in Web3.”
Guillaume Pousaz, the founder and CEO of Checkout.com, said:
"At our core, we help enterprise merchants to navigate the complexity of moving money around the world, whether in fiat currency or bridging the gap to Web3."
The report said that in addition to serving e-commerce and services merchants such as Netflix, Pizza Hut, and Sony, Checkout.com also powers large crypto players, including Coinbase, Crypto.com, FTX, and MoonPay. Its modular products are also used by the fan token provider Socios.com and the blockchain-based wallet Novi from Meta.
The company also claims to be beta-testing a proprietary solution for merchants to settle transactions in digital currencies. Pousaz added that the company is still in “chapter zero of our journey” of bridging fiat and cryptocurrencies.
Thus, according to Checkout.com's 2022 e-commerce trends report, payment diversification strategies are "vital" if brands want to convert more sales, especially as merchants increasingly offer digital wallet integrations, QR code scanners, and even to sell their own NFTs.