Blockchain

Checkout.com raises $1B in Series D, bringing valuation to $40B

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Global Payment Processor Checkout.com Announce The $1 billion Series D round on Wednesday brings a total of $1.8 billion raised to date, valuing the company at $40 billion.

Key investors in the latest round include Altimeter, Dragoneer, Franklin Templeton, GIC, Insight Partners, Qatar Investment Authority, Oxford Endowment and more.

The U.K.-based startup plans to use the funds to expand its presence in the U.S. market, further develop its payments platform and “strengthen its leadership position in Web3,” the statement said. Checkout.com founder and CEO Guillaume Pousaz admits:

“At our core, we help enterprise merchants navigate the complexities of moving money around the world, whether it’s fiat currency or bridging the gap with Web3.”

related: UK payments firm Checkout.com joins Libra Association

In addition to serving e-commerce and service providers such as Netflix, Pizza Hut, and Sony, Checkout.com also powers large cryptocurrency players such as Coinbase, Crypto.com, FTX, and MoonPay. Its modular offering is also used by fan token provider Socios.com and Meta’s blockchain-based wallet Novi. The company also claims to be testing a proprietary solution for merchants to settle transactions in digital currency.

Pousaz added that the company is still at “chapter zero of our journey” connecting fiat and cryptocurrencies. and according to According to Checkout.com’s 2022 Ecommerce Trends report, a payment diversification strategy is “critical” if brands want to convert more sales, especially as merchants increasingly offer digital wallet integrations, two QR code scanners even sell their own NFTs.