Checkout.com rakes in $230m in fintech series A funding round

Checkout.com funding update : UK online payment provider Checkout.com has raised $230 million in a fintech series A funding round, raising capital for the first time from outside investors since its inception, as per the latest fintech industry news.

Claimed to be largest-ever fintech Series A funding in Europe and third largest fintech Series A round globally ever, the round was led by growth investors Insight Partners and DST Global.

What is Checkout.com ?

Checkout.com enables global businesses to accept more payments around the world through one integration and to optimize their payments with real-time data. The UK online payment provider helps businesses to achieve more reliable processing in more than 150 currencies, with direct access to all major international cards, as well as alternative and local payment methods.

Checkout.com clients

Checkout.com clients include Samsung, Easygroup, Getty Images, Deliveroo, Hopper, Transferwise, Adidas, Patreon and Virgin Active. Founded in 2002, the UK online payment provider partners with smart businesses of all sizes to help them streamline their payments, boost revenues, and address the dynamic requirements of its customers.

Checkout.com fintech series A funding round

The Checkout.com funding raise is expected to help the UK online payment provider further expand its business in Europe, the US, the Middle East, Asia, and Latin America.

Guillaume Pousaz – Checkout.com founder, commenting on the fintech series A funding round, said: “Bringing world-class investors on board for our first funding round is a validation of everything the Checkout.com team has worked hard to achieve over the years and a way to flag just how serious we are about building a global leader that can serve any business, in any geography.

“The capital will help us increase the speed at which we roll out new products to address our merchants increasingly complex needs. Performance in payments and data streams are key drivers of success for merchants. Our objective remains to help our customers to grow their businesses, by providing them with the solutions and insights they need to win market share.”

Deven Parekh, managing partner at Insight Partners and an investor in Twitter, Alibaba and JD.com, will take a seat on the Checkout.com board following the fintech series A funding round.

Tom Stafford – DST Global managing partner, commenting on Checkout.com funding raise, said: “With the digital payments market expected to grow to $6 trillion by 2021, we believe Checkout.com can expand rapidly through its technology-driven and customer-centric payments solution.”

Other investors that participated in the fintech series A funding round include Singapore’s sovereign wealth fund GIC, Blossom Capital, and Endeavor Catalyst.

Commenting on Checkout.com funding raise, Deven Parekh – managing partner at Insight Partners, said: “The payments world is changing rapidly and online payments will be the source of most financial services in future.

“We are confident that Checkout.com will attract a great proportion of those transactions because its product and unified platform provide the full range of services that growing enterprises require.”

FT Partners and law firm Wilson Sonsini Goodrich & Rosati have acted as advisors for Checkout.com in the fintech Series A round.

Insight Partners is a global venture capital and private equity firm investing in high-growth technology and software companies while DST Global is an Internet investment group.