Checkout.com, a financial technology company based in London, has received $1 billion investment.
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 West Coast mutual fund management firm participated in the round.
Founded in 2012, Checkout.com offers electronic payment solutions that simplify payment processes for businesses. The company’s customers include Netflix, Grab Holdings and Coinbase Global. It also offers fraud monitoring services on its platform.
Checkout.com will use the latest funding to invest in the United States market to meet high demand and launch a new platform to ease payments within online marketplaces.
Checkout.com, which is testing a service to settle transactions for merchants with digital currencies, will use the latest capital infusion to explore more opportunities in the Web3 – a term for a utopian version of the internet that is decentralized.