UK FinTech Checkout.com has been valued at $5.5bn, making it Europe’s highest valued FinTech (tied with Revolut).
This follows a $150mn Series D funding round.
The round was led by Coatue and several existing investors took part.
It has tripled its valuation since its Series A in 2012.
What does this mean?
Checkout.com has seen increased use as commerce goes online due to the Coronavirus pandemic. In May, transaction volumes had risen 250% year on year.