Payments company Checkout.com has closed a $450 million Series C round with Tiger Global Management leading the round Greenoaks Capital and all existing investors are also participating.
If you’re not familiar with the company, Checkout.com wants to build a one-stop-shop for all things related to payments, such as accepting transactions, processing them, and detecting fraud. It focuses on large merchants and tries to make its product as customizable as possible so that you integrate it as an infrastructure partner in your product.
The company’s fundraising story in particular is jaw-dropping. The startup was founded in 2012 in London. At first, it grew slowly and methodically. Every time it would generate a bit of revenue, it would hire more people. “We can hire one employee this month. Now we can hire two employees this month,” founder and CEO Guillaume Pousazsaid .
But Checkout.com kept growing and growing until it raised one of the biggest Series A rounds ever for a European company $230 million at a $2 billion valuation. Just a year later, Checkout.com added $150 million in funding at a $5.5 valuation.
Checkout.com is now valued at $15 billion based on today’s funding round. According to the startup, it is now the fourth largest fintech company globally.
Checkout.com had 440 employees in January 2020. It finished 2020 with 940 employees. And this year, the company plans to hire an additional 700 people.