The London-based fintech startup Checkout.com raised $1 billion in a recent share sale that valued it at $40 billion, Forbes’ Russian edition reports citing The Wall Street Journal (WSJ).

New investors including Franklin Templeton and the Qatar Investment Authority participated alongside existing ones, such as Insight Partners and Tiger Global Management.

Since its first fundraising round in 2019, Checkout.com’s valuation has swelled 20 times, over this time the company scored $1,8 billion.

Checkout.com, founded in 2012, allows companies to accept different types of payments over the internet from different countries. Every time a user makes a transaction, Checkout.com charges a small percentage for processing and a flat fee.

The business boomed during the COVID-19 pandemic. The company’s Chief Executive Officer Guillaume Pousaz said the payment volume tripled in both 2020 and 2021.

The company plans to channel most of the new capital for expansion in the USA. Pousaz said they are planning an initial public offering (IPO), but isn’t ready to do so yet. “We have a couple years before we get there,” he said.



Banks.am reminds that in January 2021 Checkout.com topped the rating of Europe’s largest fintech unicorns. The company took the lead after raising additional $450m in the investment round led by Tiger Global Management.

That time Checkout.com’s processing platform valued at $15bn which put the startup on top of the rating of Europe’s largest fintech unicorns. In the global scale, the startup became the fourth largest private fintech.

The partner of Fintech section is