Summary List Placement
Payments firm Checkout.com is now Europe’s most valuable startup after raising $450 million at a $15 billion valuation.
It’s one of the largest recent funding rounds in Europe and makes the company the fourth most valuable privately owned fintech worldwide.
Founded by college dropout Guillaume Pousaz in 2012, Checkout.com raised Europe’s biggest ever Series A round of $230 million in May 2019, at a valuation of $2 billion. That was followed by a $150 million Series B in June last year at a $5.5 billion valuation.
Checkout.com powers the payments process of major companies like soon-to-be-public food delivery unicorn Deliveroo, fintech giant TransferWise, and Adidas.
“We had an exceptional year last year, particularly towards the end of 2020 with around $1 billion a week of e-commerce volumes,” Checkout’s founder and CEO Pousaz told Insider. “We had no plans to raise but had remained in touch with investors who have a long-term view of the business. This is going to be a generation-defining company.”
The startup claims to have added more than 500 new enterprise clients in 2020 including Coinbase, Pizza Hut, H&M, Grab, Klarna, Farfetch, and messaging app Telegram. The company’s competitors include Stripe, last valued at $36 billion, and Dutch payment …read more
Source:: Businessinsider – Technology