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.