Checkout.com is one of a rare breed of fintechs that has been consistently profitable since its inception.
Checkout.com said Tuesday that it had raised $450 million in an investment led by Tiger Global Management — which is also an investor in rival payments giant Stripe — lifting its valuation to $15 billion.
Nobody would have expected at the beginning of the year that 2020 would have been this way,” Checkout.com’s CEO and founder Guillaume Pousaz told CNBC in a November interview.
Key Points
- com said it’s raised $450 million in an investment led by Tiger Global Management.
- With a $15 billion market value, Checkout.com is now Europe’s most valuable unicorn company.
- The company plans to use the fresh cash to further expand in the U.S. and ramp up hiring.
The company still has some catching up to do when it comes to matching the valuations of its payment peers. Stripe was valued at $36 billion in its most recent private funding round, and is reportedly hoping to fetch a market value of as much as $100 billion in a new investment deal.
Europe’s top unicorn
With a $15 billion market value, Checkout.com has overtaken data center operator Global Switch as Europe’s most valuable unicorn company, and beaten “buy now, payer later” firm Klarna to become the most valuable fintech in the region, according to data from CB Insights. Unicorns are privately-held start-ups worth $1 billion or more.
