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Checkout.com is worth $40 billion now

It's one of the world's top 10 most valuable private companies now. The payments processor's customers include Netflix, Grab and Pizza Hut.

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Checkout.com's customers include Klarna and Coinbase.

Image: Lisa Krymova

Payments processor Checkout.com has raised $1 billion at a $40 billion valuation as fintech companies continue to raise capital at record amounts.

The company, which counts Netflix, Klarna and Sony as customers, says it has been profitable for several years. Checkout.com has headquarters in London but plans to expand in the U.S, build out its technology and focus on Web3. Its crypto customers include Coinbase, Crypto.com, FTX and MoonPay.

The financing makes it one of the world's most valuable private companies, according to a list maintained by CB Insights. It's tied for sixth place with Canva, and is close in value to another private fintech, Klarna.

The financing, which is more than double its $15 billion valuation set a year ago, is a Series D with investors including Altimeter, Dragoneer, Franklin Templeton, GIC, Insight Partners, Qatar Investment Authority, Tiger Global and Oxford Endowment Fund.

Tomio Geron

Tomio Geron ( @tomiogeron) is a San Francisco-based reporter covering fintech. He was previously a reporter and editor at The Wall Street Journal, covering venture capital and startups. He was also as a staff writer at Forbes covering social media and venture capital, and edited the Midas List of top tech investors. He can be reached at tgeron@protocol.com or tgeron@protonmail.com.

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