The race is heating up among payments processors that hope to get ahead in crypto. Checkout.com, the behind-the-scenes company that powers payments at some of the biggest names in crypto, raised $1 billion at a $40 billion valuation as it invests further in crypto and Web3, the company said Wednesday. The deal aims to help the company push ahead of competitors like Stripe that haven’t plunged as deeply into digital currencies.
The Series D fundraise, which included Altimeter, Franklin Templeton, Tiger Global Management and Insight Partners as investors, more than doubles Checkout.com’s previous valuation from last year. It also secures Checkout.com a spot in the top 10 list of most valuable unicorns, or companies valued at over $1 billion, according to a CB Insights report released Wednesday.