Payments giant Checkout.com has closed a mammoth $1bn funding round as it gears up for a major US expansion, the firm announced today.
The funding round values the payments processor at $40bn and places it firmly among Europe’s most valuable fintechs.
The latest round was backed by investors including Altimeter, Dragoneer, and the Qatar Investment Authority, as well as a number of the company’s existing investors, the firm said today.
Checkout.com, which simplifies payments for online merchants, said the new capital will be channelled into “ambitious” US growth plans as well as the development of its technology.
Céline Dufétel, Checkout.com’s New York-based CFO, said: “We have long-faced substantial demand to serve the US market, and with our Series D we’re doubling down on our commitment to scaling our platform, partnerships and products for customers here.”
She said the firm would focus on delivering payments solutions for “fintech, software, food delivery, travel, e-commerce and crypto merchants”.
The firm said that it was expecting the North American employee base to grow by 200% this year.
The new series D funding round sees Checkout.com more than double its valuation since Series C a year ago. In that time, it has grown rapidly in its home market of EMEA, tripling the volume of transactions processed for the third year in a row.