Checkout.com, an international payments processor, has confirmed a $1 billion Series D funding round yesterday meaning it raised $1.8 billion to date. This also puts the valuation of the company at $40 billion.
Altimeter, Dragoneer, Franklin Templeton, GIC, Insight Partners, the Qatar Investment Authority, the Oxford Endowment Fund were among the top investors.
The startup, which is based in the UK, wants to utilize the funds to scale operations in the US market, continue developing the platform, and “strengthen leadership in Web3.”
Guillaume Pousaz, the CEO and founder of Checkout.com, stated:
“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 company is serving e-commerce and services merchants like Sony, Netflix, and Pizza Hut, but it also powers important players on the crypto market, such as Coinbase, MoonPay, Crypto.com, and FTX. Fan token provider Socios.com and blockchain-based wallet Novi from Meta also use the company’s modular products.
It was also revealed that Checkout.com is now in the beta testing phase of proprietary solutions for merchants to settle transactions in digital currencies. The CEO declared that the startup is just in “chapter zero of our journey” of creating a bridge between crypto and fiat.