On Wednesday, a London-based financial technology firm Checkout.com had issued a statement saying that the UK-based fintech giant’s valuation had more than doubled up to a whopping $40 billion in less than a year. In point of fact, latest statement from Checkout.com followed a latest fundraising campaign that had raised a stark upsum of $1 billion, while a swathe of new alongside existing investors ranging from Altimeter to Dragoneer to Qatar Investment Authority, had taken part in the fundraising campaign.
Besides, adding that Franklin Templeton, Tiger Global, Oxford Endowment Fund as well as a Large West coast mutual fund management company had participated at its latest funding round, checkout.com was quoted saying that the London-headquartered fintech firm would lay off the entire total raised through its latest fundraising campaign to roll out new products and to engage its engagement in so-called Web3 space.
Fintech firm Checkout.com valued over $40bn in latest fundraising
Aside from that, latest fundraising campaign of Checkout.com came forth nearly a year after the financial technology company had raised about $450 million, valuing the firm at a jawdropping $15 billion at that time.
In factuality, with changes being observed in consumers’ behaviour in a pandemic-era new normalcy, fintech firms had drawn into wide-ranging customers to amplify their bets in the trend. Nevertheless, founded back in the 2012, Checkout.com has turned out to be a hubspot of digital payments, which is claimed to have simplified the way online transactions are conducted.
The fintech start-up’s platform offers its services to a number of high-profile tech giants across the globe such as video streaming pioneer Netflix Inc., Crypto titan Coinbase Global Inc alongside Grab Holdings, while Checkout.com also monitors fraudulent activities in the platforms.