Checkout.com Raises $230 Million Series A with Participation from Endeavor Catalyst
Checkout.com, a global payments solutions provider led by Endeavor Entrepreneur Guillaume Pousaz, has raised $230 million in a Series A funding round led by Insight Partners and DST Global with participation from Endeavor Catalyst and other strategic investors. The round set a record as the world’s third largest fintech Series A ever.
Checkout.com will use the funding to continue its rapid growth in Europe, the US and the Middle East, with further expansion into Asia and Latin America.
“We’re thrilled to have Endeavor Catalyst join Checkout’s monumental Series A round,” said Endeavor Co-founder and CEO Linda Rottenberg. “That Guillaume bootstrapped Checkout from seed to scale, raising his first funding round five years after its launch, speaks to both his talent and aspiration. We’re proud to call him an Endeavor Entrepreneur, and we’re excited to see where he takes Checkout next.”
Pousaz launched Checkout.com in 2012, and is dedicated to shaking up the way payments are handled: boosting transparency, efficiency, and accessibility. Today, the company offers the world’s most comprehensive cross-border payment solution for digital commerce.
Checkout.com’s proprietary technology helps fast-growing businesses have seamless and reliable global payment processing for both companies and consumers. The business offers direct access to domestic acquiring across payment methods and geographies, including all major credit and debit cards, online banking, PayPal, Apple Pay and other eWallets. This is achieved through a single, unified integrated platform which also provides fraud management tools, analytics and comprehensive reporting features.
“This record round underscores the massive opportunity we’re seeing in the digital payments market globally,” said Endeavor Fintech Portfolio Manager Nasim Novin. “With its commitment to building a world-class product and team, we believe Checkout.com is well poised to become the leading payments solution for merchants.”
“Bringing world-class investors on board for our first funding round is a validation of everything the Checkout.com 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,” Pousaz said in the company’s announcement of the round. “The capital will help us increase the speed at which we roll out new products to address our merchants increasingly complex needs. Performance in payments and data streams are key drivers of success for merchants. Our objective remains to help our customers to grow their businesses, by providing them with the solutions and insights they need to win market share.”
Checkout.com enterprise customers include some of the world’s best known brands, such as Samsung, Easygroup, Getty Images, Deliveroo, Transferwise, Patreon and Virgin Active. It processes more than 150 currencies and has 345 staff, across eight offices. Its team is expected to triple over the next three years as the company expands its core business and moves into new product areas.
Pousaz joined the Endeavor network in December 2018 at the 84th International Selection Panel in South Africa, and has received strategic support from Endeavor’s Dubai office as he looks to scale Checkout.com’s operations across the Middle East.
About Endeavor Catalyst
Endeavor Catalyst is the innovative co-investment fund of Endeavor, set up to invest exclusively in Endeavor Entrepreneur-led companies and to sustain Endeavor’s long-term operations in a mission-aligned way. Since launching in January 2012, Endeavor Catalyst has raised over $110M in donated and invested capital, and invested in more than 100 Endeavor companies in over 20 markets. To date, Endeavor Catalyst has co-invested alongside a number of leading venture capital and growth equity funds, including Accel Partners, General Atlantic, NEA, Sequoia Capital and Tiger Global. Investments include Globant (NYSE: GLOB) in Argentina, Yemeksepeti.com (acquired by Delivery Hero) in Turkey, and dr. consulta in Brazil. Learn more here.
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight currently has over $20 billion of assets under management and has cumulatively invested in more than 300 companies worldwide. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on growth expertise to foster long-term success. Across their people and their portfolio, they encourage a culture around a core belief: growth equals opportunity. For more information on Insight and all its investments, visit www.insightpartners.com or follow them on Twitter @insightpartners.
About DST Global
DST Global is one of the leading Internet investment groups globally. Its portfolio includes some of the world’s leading and most valuable Internet companies like Facebook, Twitter, Airbnb, Spotify, WhatsApp, Alibaba and JD. DST Global is headquartered in Hong Kong and has offices in Silicon Valley, New York, London and Beijing.