INSUBCONTINENT EXCLUSIVE:
Checkout.com, the quiet London-based payment platform, has acquired its first startup, ProcessOut
Checkout.com surprised everyone last year when it announced a gigantic $230 million Series A round
It turns out the payment processing boom is not over yet.
Checkout.com focuses on enterprise clients with customers all around the world
It provides a full-stack payment service, from accepting transactions, processing them and detecting fraud
It helps with reconciliation thanks to an API and a reporting hub.
The startup is particularly efficient when it comes to supporting
multiple currencies and payment methods
You can accept payments in more than 150 currencies
Checkout.com supports debit and credit cards, Apple Pay and Google Pay, as well as local payment methods such as Klarna, iDEAL and Giropay,
and e-wallets such as PayPal and Alipay.
A quiet London-based payments startup just raised among the biggest Series A rounds ever in
Europe
ProcessOut is a French startup that realized e-commerce companies have been leaving money on the table by relying on a single
The company built a smart routing checkout module that works with dozens of payment providers.
When you enter your card number, ProcessOut
can select the best payment provider when it comes to fees and acceptance rate
For instance, a local payment provider can be a lot cheaper than Stripe, but transactions get declined a lot more often
The startup can figure out whether a transaction will go through before selecting an obscure payment provider.
The company then shows you
dashboards so you can visualize payment data in a single location
You can generate report and match transactions on your bank account with transactions on different payment providers.
That combination of
data visualization and smart routing helped them score some big clients, such as Glovo, Veepee, Rakuten.fr and Dashlane
In 2019, ProcessOut tracked 10% of online transactions in France
Transactions representing $20 billion have been analyzed by ProcessOut over the past 12 months.
With today acquisition, ProcessOut team of
14 employees are joining Checkout.com team of 600 employees
Checkout.com isn&t disclosing the terms of the transaction
Checkout.com is getting a ton of insight on different payment providers
It can learn from ProcessOut technology to optimize its internal payment workflows, as well.
