Funding round
Checkout.com Series B
Checkout.com, which works in global payment processing services in London, raised $150M in a Series B round announced on 22 Jun 2020, led by Coatue, at a $5.50B post-money valuation. 6 firms took part. It is Checkout.com's second venture round on record; the one before was a Series A in Jun 2019.
$150M
Amount raised
$5.50B
Post-money valuation
6
Investors
1 lead
2.7%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Checkout.com at $5.50B after the new money. The $150M bought investors about 2.7% of the company. It came 12 months after Checkout.com's Series A. It is 8.2% of the $1.83B Checkout.com has raised in the venture rounds on record. Checkout.com raised again 7 months later: a Series C round of $450M in Jan 2021. Its next priced round, a Series D in Jan 2022, valued it at $40.00B.
Investors
Who put money in
Coatue led the round with 5 other firms.
Lead investor
- Coatue backs 229 venture-backed companies new investor
Also in the round
- Insight Partners backs 548 venture-backed companies new investor
- DST Global backs 179 venture-backed companies new investor
- backs 30 venture-backed companies new investor
- Endeavor backs 236 venture-backed companies new investor
- GIC backs 98 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, scaling operations and working capital.
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
48 Series B rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $35M, and this round was 4.3 times the median. The closest in time, other companies' Series B rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Payment Processing & Point of Sale | 23 Jun 2020 | $2.3M | not disclosed | Financial Services Capital |
| Payment Processing & Point of Sale | 6 Jul 2020 | $53M | not disclosed | B Capital and Insignia Ventures Partners |
| Payment Processing & Point of Sale | 13 May 2020 | $35M | not disclosed | Vertex Ventures Israel |
| Payment Processing & Point of Sale | 28 Jul 2020 | $20M | not disclosed | WI Harper Group |
| Payment Processing & Point of Sale | 22 Apr 2020 | $150M | not disclosed | Union Square Ventures |
| Payment Processing & Point of Sale | 5 Aug 2020 | $5.0M | not disclosed | BRI Ventures |
| Mollie Payment Processing & Point of Sale | 8 Sep 2020 | $100M | not disclosed | Technology Crossover Ventures |
| Payment Processing & Point of Sale | 8 Sep 2020 | $60M | not disclosed | Helios Investment Partners |
Sources
Where this comes from
Reported by 5 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Checkout.com raise in its Series B round?
Checkout.com raised $150M in its Series B round, announced in Jun 2020.
Who led Checkout.com's Series B round?
Coatue led it, with Insight Partners, DST Global, Blossom Capital, Endeavor and GIC.
What was Checkout.com's valuation at the Series B round?
$5.50B post-money.
How does it compare with other Series B rounds in Payment Processing & Point of Sale?
48 Series B rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $35M, and this round was 4.3 times the median.
Did Checkout.com raise again after this round?
Yes: a Series C round in Jan 2021 of $450M.