Checkout.com's valuation hits $40 billion with $1 billion raise

Payment processor Checkout.com said on Wednesday its valuation had hit $40 billion following the completion of a $1 billion Series D funding round. 

The raise secures its place as one of Europe's most valuable start-ups and more than doubles its valuation since its Series C a year ago when it raised $450 million at a $15 billion valuation. 

The company said in a release that in that time, it has tripled the volume of transactions processed for the third year in a row. The company serves large-scale e-commerce and services merchants like Netflix, Farfetch, and Sony; fintech unicorns such as Klarna, Qonto, Revolut and WorldRemit; and many of the world’s largest crypto players, including Coinbase, Crypto.com, FTX, and MoonPay.

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Primary investors included Altimeter, Dragoneer, Franklin Templeton, GIC, Insight Partners, the Qatar Investmen