Next Money
  • Home
  • News
    • Business
    • Cloud
    • Features
    • Identity
    • Insurance
    • Crypto
    • Open Banking
    • Payments
    • Regulation
    • Retail
    • Security
    • Startups
    • Wealth
  • Agency
  • Founders
  • About
  • Privacy policy
Facebook 13K Likes
Twitter 18K Followers
YouTube 807 Subscribers
LinkedIn
Next Money
  • Home
  • News
    • Business
    • Cloud
    • Features
    • Identity
    • Insurance
    • Crypto
    • Open Banking
    • Payments
    • Regulation
    • Retail
    • Security
    • Startups
    • Wealth
  • Agency
  • Founders
  • About
  • News
  • Business

GIC backs Checkout.com again as it raises $150m

  • Neil Martin
  • June 22, 2020
  • No comments
  • 2 minute read
Total
0
Shares
0
0
0

Singapore’s sovereign wealth fund, GIC, was one of the existing investors putting more money into global payment solution provider Checkout.com as it raised $150m in a Series B funding round, tripling the value of the business.

The round was led by Coatue, along with participation from existing investors, including Insight Partners, DST Global, Blossom Capital and GIC. 

The new money will be used to further strengthen the company’s balance sheet, bringing available cash to over $300m. It will also invest in the development of new innovative products, including its upcoming advanced Payouts solution and the capability to accelerate settlement times.

The Series B fundraise follows a $230m Series A in May 2019. This was Europe’s largest fintech Series A round of funding ever.

The company gave an upbeat assessment of its current position, saying that its online transaction numbers had already increased by 250% comparing May 2019 and May 2020. It said it had been profitable since it was created in 2012. 

Based in London, Checkout.com powers many of the world’s leading enterprises, adding over 500 merchants to its books in the last twelve months including Grab, Revolut, Careem, Glovo, Robinhood, Farfetch, Klarna and Remitly. Its proprietary technology offers enterprise businesses seamless and reliable global payment processing.

CEO and founder Guillaume Pousaz said: “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.

“The way money moves into and out of businesses is changing rapidly. I believe that by solving financial complexity, you can radically unlock innovation — starting with digital payments. At Checkout.com, we’ve built a technical architecture that enables pioneers to reinvent industries and redefine their relationship with consumers. Now more than ever, we are confident of our mission to build the connected payments that businesses deserve.”

Total
0
Shares
Share 0
Tweet 0
Share 0
Related Topics
  • Checkout.com
  • GIC
  • Singapore
Neil Martin

Neil Martin is the editor of Next Money. He is a financial journalist who writes on fintech, financial services and automation. He also wanted to be a backing singer for a R&B band, but he can't sing, so took up road cycling instead. Please feel free to follow him on Twitter, LinkedIn, or Medium. And email him if you have a story, or thoughts on fintech in general: [email protected]

Previous Article
  • News
  • Business
  • Open Banking

And through to the next round is….MAS doesn’t reveal chosen ones bidding for electronic banking licence

  • Neil Martin
  • June 18, 2020
View Post
Next Article
  • News
  • Business
  • Payments

Mastercard buys data company Finicity as open banking gets thumbs up

  • Neil Martin
  • June 23, 2020
View Post
You May Also Like
View Post
  • Asia
  • Business
  • News

Benefit Vantage named as Best JUMPSTARTER – Fintech

  • News Team
  • March 22, 2021
View Post
  • Asia
  • Business
  • News

Indonesian consumers prefer to use digital channels during crisis

  • Neil Martin
  • March 19, 2021
View Post
  • News
  • Business
  • Crypto
  • North America

Fireblocks Raises $133m To Bring The World’s Biggest Banks And Fintechs Into Crypto

  • News Team
  • March 19, 2021
View Post
  • Australia
  • Business
  • Europe
  • News

Railsbank boss returns to his ancestral roots

  • News Team
  • March 18, 2021
View Post
  • Australia
  • Business
  • Europe
  • News

Railsbank launches in Australia as it continues expansion across APAC region

  • News Team
  • March 18, 2021
View Post
  • Asia
  • Business
  • News
  • Payments

Why is the QR code payment gaining traction in SE Asia?

  • Neil Martin
  • February 23, 2021
View Post
  • News
  • Business
  • Crypto
  • US

Get bitcoins from an ATM

  • Neil Martin
  • February 13, 2021
View Post
  • Europe
  • Business
  • News
  • Payments

Klarna launches bank accounts in Germany

  • News Team
  • February 10, 2021

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Digital Product Consulting & Digital Transformation Services - CreITive
  • Home
  • Agency
  • Founders
  • About us
  • Privacy policy
  • Contact

Copyright © 2020 Next Money Limited

Input your search keywords and press Enter.