• Checkout.com, a cloud-based payment infrastructure provider, has raised USD 1 billion in Series D funding from several investors including Altimeter, Dragoneer, GIC, Insight Partners, the Qatar Investment Authority, and Tiger Global, among others. This round values the company at USD 40 billion (more than twice its valuation from a year ago) and brings its total funds raised to USD 1.8 billion.

• The funds will strengthen the company’s balance sheet and be invested in expanding its presence in the US, product development to launch more marketplace solutions, and develop Web3 solutions.

• Over the past year, the company has tripled the volume of transactions handled by its infrastructure (for the third year in a row) and opened new offices in six countries across four continents. It currently has a workforce of around 1,700 employees based in 19 countries. 

<ul><li> Analyst QuickTake: In January 2021, when Checkout raised USD 405 million in Series C funding at a USD 15 billion valuation, the company claimed to be the fourth largest fintech company in the world. As it expands to the US, it will compete with the US payment infrastructure giant Stripe —one of the highest valued private companies in the world (USD 95 billion as of March 2021).</ul>