On June 22, 2020, Checkout.com, a global payment solutions provider, announced a $150 million Series B funding round, tripling the company’s valuation to $5.5 billion and making it one of the most valuable fintechs globally. Wilson Sonsini Goodrich & Rosati is advising Checkout.com in the fundraise.

The $5.5 billion valuation, along with Checkout.com’s 250% increase in online transactions from May 2019 to May 2020,  reflects the growing business demand for transformative online payment solutions that perform across all geographies and channels. Global lockdowns have further accelerated this growth as businesses have rapidly pivoted online in response.

The Series B funding was led by Coatue and included participation from existing investors, including Insight Partners, DST Global, Blossom Capital, and GIC. The funds will be used to further strengthen Checkout.com’s balance sheet, and the company also will invest in the development of new innovative products. The Series B fundraise follows a record-breaking $230 million Series A in May 2019, which was Europe’s largest fintech Series A round of funding ever, and on which Wilson Sonsini also advised.

The Wilson Sonsini team advising Checkout.com includes partners Michael Labriola and Daniel Glazer, and associates Elisa Sielski, Diviya Padman, and Betty Rosenbaum. Macfarlanes LLP and Carey Olsen Jersey LLP also advised Checkout.com on the transaction.

Please see the company’s press release for more information.