May 3, 2019
Checkout.com, a London-based payments platform, has raised $230 million led by Insight Partners and DST Global, in what it called the largest ever Series A round by a fintech in Europe, according to a press release.
The round was assisted by Singapore's sovereign wealth fund GIC, Blossom Capital, Endeavor Catalyst and other investors.
The funding will be used to expand the business in the U.S., Europe and Middle East as well as expand in Asia and Latin America.
The company's technology processes global payments and provides direct access to domestic acquiring across multiple payment methods, including credit and debit cards, online banking, Apple Pay, PayPal and other digital wallets.
"Bringing world class investors on board for our first funding round is a validation of everything the checkout 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," said Checkout.com Founder Guillaume Pausaz in the release.
The company's client roster includes Samsung, Virgin Active, Getty Images and Deliveroo and the company has 345 employees, with 200 based in London and the rest in eight other offices worldwide. It expects to triple its headcount in the next three years as it expands products and markets.
Deven Parekh, managing partner at Insight Partners, will take a seat on the Checkout.com board.
Topics: In-App Payments, Mobile Payments, Money Transfer / P2P, Region: EMEA, Retail, Technology Providers
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