European revenues up 60% for Checkout.com

One of Europe’s fastest-growing fintechs has shared its annual accounts for 2018, in which it experienced a 60% growth in revenues for its European operations.

The total revenues for the European business rose to $74.8m in 2018, up from $46.8m in 2017. This growth was supported by an increase in the volume of payments processed by Checkout.com’s technology, which was up by over 150%.

As with previous years, the 2018 annual accounts show growth in both net revenues and equity, while the company continues to be profitable.

Guillaume Pousaz, Checkout.com’s CEO and Founder, said: “Our new headquarters in London is three times as big as the old one and that’s a clear statement of our commitment to London from where we can build a genuinely global business.

“The UK is home to the largest eCommerce market in Europe and we are proud to provide payments to many of the country’s biggest brands including companies in traditional sectors like media and travel, as well as emerging ecommerce and fintech businesses.”

The UK company raised a record $230m in Series A funding in May, securing the backing of US investors Insight Partners and DST Global. The deal valued the payments processor at nearly $2bn and made Checkout.com one of the UK’s 14 unicorns, or fast-growing private tech businesses worth more than $1bn.

Checkout.com’s payments platform manages all parts of the payments process quickly, efficiently and transparently. The technology can process more than 150 currencies and facilitates transactions sourced from all the major credit and debit cards –  Visa, Mastercard, American Express – while also handling alternatives, such as ApplePay and PayPal.