21 January 2022

Carey Olsen advises Checkout.com on US$1 billion Series D funding round

Carey Olsen's corporate team in Jersey has advised Checkout.com on its Series D funding round of US$1 billion, which now values the leading global payment solutions provider at US$40 billion.

The Series D means Checkout.com has more than doubled its valuation since its Series C in early 2021, during which time the company has tripled the volume of transactions it processed for the third year in a row and opened new offices in six countries across four continents to cater for the surging merchant demand.

Primary investors in the latest funding round included Altimeter, Dragoneer, Franklin Templeton, GIC, Insight Partners, the Qatar Investment Authority, Tiger Global, The Oxford Endowment Fund, and another large west coast mutual fund management firm. Checkout.com will use the new capital to strengthen an already solid balance sheet and drive three key initiatives: its ambitious growth plans for the US market; the continued evolution of its proprietary technology platform; and its drive to remain on the cutting edge of Web3.

Working alongside lead UK counsel Allen & Overy and US counsel Wilson Sonsini Goodrich & Rosati, the Carey Olsen team advising Checkout.com on all Jersey law aspects of the fundraising comprised corporate partner James Willmott and associate Steven Khan.

James said: "We at Carey Olsen are absolutely delighted to have assisted Checkout.com on its successful Series D round. Having advised the company on its prior fundraisings, it has been incredibly impressive to witness its growth trajectory at such close quarters. Checkout.com has firmly established itself as a leader in the global payment solutions market and as a key partner for many of the world's leading businesses."

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