Checkout.com raises $230 million in Series A

The leading global payment solution provider for startups and tech companies, Checkout.com has raised $230 million in its Series A funding round, which happens to be the largest of its kind in the world. Reports by The Wall Street Journal and Financial Times hinted that the funding round was based on a valuation close to $2 billion.

Having been bootstrapped all this time, this was the first ever external investment raised by Checkout.com, led by Insight Partners and DST Global. It also saw Singapore’s sovereign wealth fund GIC, Blossom Capital, Endeavor Catalyst and other strategic investors.

Checkout.com offers digital payment solution through API integration. Its payment processing platform features “ in-country acquiring, relevant payment methods, feature parity across geographies, fraud filters and reporting features, via one API.” Its services are used by businesses across the US, Europe and the Middle East in more than 150 countries.

Its US competitor is Stripe, while in Europe it is Ayden. It plans to invest the funds raised in strengthening their leading position in the market, and expanding to Jordan and Pakistan within the next twelve months.

Read more about it here.