Checkout.com said its valuation more than doubled to $40 billion in a year, following a $1 billion investment in the financial technology company that will be used to launch products and further its involvement in the so-called Web3 space.
Several new and existing investors including Altimeter, Dragoneer, Franklin Templeton, Singapore’s GIC, the Qatar Investment Authority, Tiger Global, the Oxford Endowment Fund, and a “large West Coast mutual fund management firm” participated in the round, the company said on Wednesday.
The fundraise comes a year after the London-based company’s previous round of investment, in which it raised $450 million and notched a valuation of $15 billion.
Founded in 2012, Checkout.com offers electronic payment solutions that simplify payment processes for businesses. The company, which serves high profile names such as Netflix Inc , Grab Holdings and Coinbase Global Inc , also offers fraud monitoring services on its platform.
Read more/Source: Reuters
