Global payment processor Checkout.com announced a $ 1 billion round of funding in Series D on Wednesday, representing a total of $ 1.8 billion raised to date and a $ 40 billion valuation for the company.

The biggest investors in the latest round include Altimeter, Dragoneer, Franklin Templeton, GIC, Insight Partners, Qatar Investment Authority, Oxford Endowment Fund and others.

According to the statement, the UK start-up plans to use the funds to expand its business in the US market, continue to develop its payment platform and “strengthen its leadership in Web3.” Checkout.com founder and CEO Guillaume Pouzat admits:

“At our core, we help corporate merchants get around the complexity of moving money around the world, whether it’s in fiat or bridging the gap with Web3.”
Related topics: British Payment Company Checkout. com joins the Libra Association

In addition to serving service and e-commerce vendors such as Netflix, Pizza Hut and Sony, Checkout.com also supports major crypto players including Coinbase, Crypto.com, FTX and MoonPay. Its modular products are also used by the fantoken provider Socios.com and the Novi blockchain-based Meta wallet. The company also claims to beta-test a dedicated vendor solution to determine cryptocurrency transactions.

Bosaz added that the company is still in “the first chapter of our journey” to bridge the gap and cryptocurrency. Payment diversification strategies are “important” if brands want to convert more sales, especially as sellers increasingly offer digital wallet integration, QR code scanners and even sell their private NFTs, according to Checkout.com’s 2022 e-commerce trends report. …

Source: CoinTelegraph

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