Checkout.com, a London-based payments solutions provider, raised US$1 billion in its Series D funding round at a valuation of US$40 billion.

The firm has more than doubled its valuation since its US$450 million Series C a year ago.

Primary investors include Altimeter, Dragoneer, Franklin Templeton, GIC, Insight Partners, the Qatar Investment Authority, Tiger Global, the Oxford Endowment Fund, and another large west coast mutual fund management firm.

Existing investors Blossom Capital, Coatue Management, DST Global, Endeavor Catalyst and Ribbit Capital also participated in this round.

The Series D capital will drive three key initiatives; Checkout.com’s growth plans for the US market; the continued evolution of its proprietary technology platform and solutions; and its goal to remain on the cutting edge of Web3.

Checkout.com offers a full-stack online platform that simplifies payments processes for large global enterprise merchants.

Over the past year Checkout.com opened new offices in six countries across four continents to cater to surging merchant demand.

It also expanded its executive leadership team in the US and Europe with a new CFO, CHRO, CMO, CPO, CRO and CTO while its overall employee base grew to more than 1700 people in 19 countries.

“At our core, we help enterprise merchants to navigate the complexity of moving money around the world, whether in fiat currency or bridging the gap to Web3.

 

Our Series D is validation of that work—but given we’re still in ‘chapter zero’ of our journey, it will also fuel our efforts to unlock the enormous untapped opportunity ahead.”

said Guillaume Pousaz, CEO and Founder of Checkout.com.