Checkout.com secures £121m Series B investment led by Coatue
Coatue led the Series B funding round to support product development and strengthen the balance sheet.
Checkout.com offers a full-stack online platform that simplifies payment processes for large global enterprise merchants. The company provides cloud-based payment solutions connected directly to local networks in key geographies.
London-based payments provider Checkout.com has secured a Series B funding round of £121m, valuing the business at $5.5bn. The investment was led by Coatue, with participation from existing backers including Insight Partners, DST Global, Blossom Capital, Endeavor Catalyst, and GIC.
The company intends to allocate the capital towards strengthening its balance sheet and developing new products, such as its forthcoming Payouts solution and faster settlement capabilities. Checkout.com has maintained profitability since 2012 and reported a surge in online transaction volumes as commerce shifts from physical stores to digital channels.
The raise follows a record-setting Series A round in May 2019 and supports the firm as it scales operations internationally. The business currently employs over 750 staff across multiple global offices.
From the founder
"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."
Guillaume Pousaz
Founder and CEO at Checkout.com
Use of funds
- 01Continue product development
- 02Scale operations
Investors
Categories
About the company
Checkout.com
Checkout.com provides an online payments platform for global enterprise merchants.