Covid-19 Impact on Banks, And fixes. The Black Swan Opportunity

Download Now

The Black Swan Opportunity |Get your bank digital ready.

IBSI Special 5 Digital Report Package with Special Offer. Subscribe now

IBS Journal: The iconic monthly FinTech magazine

April 2020 issue out now! Subscribe now

India FinTech Report 2020

Insights into the historical and projected market size of key FinTech categories. Subscribe now

Checkout.com buys French ProcessOut in its first acquisition

Guillaume Pousaz, Founder and CEO of Checkout.com

Guillaume Pousaz, Founder and CEO of Checkout.com

Payment solutions provider Checkout.com has made its first-ever acquisition with French payment company ProcessOut, following its $230 million Series A funding round in 2019.

The acquisition will enable Checkout.com to offer its enterprise customers more tools to optimise and streamline payment routing.

ProcessOut works with businesses such as Glovo, Dashlane, Rakuten and Veepee for international payment processing through a dashboard which monitors and benchmarks processing capabilities. In the past 12 months, over $20bn transactions were analysed by the ProcessOut platform, with more than 10% of all online transactions in France being touched by its technology.

Guillaume Pousaz, Founder and CEO of Checkout.com said it intends on combining the two platforms to offer global merchants a deeper set of actionable insights in order to improve acceptance rates and maximise the cost efficiency of payments.

“Whilst we always believe in organic growth, we respect businesses who have built great tech and managed to generate momentum. With over $20bn worth of transactions analysed in 2019, ProcessOut fits in this category and as such we are delighted to make them our first acquisition.

“Furthermore, it was clear from day one that their team closely aligned with our values to create a fairer and higher-performing payment ecosystem for businesses – with increased transparency and greater control. Given that we believe unconditionally that a business is only as good as its people, we are really excited to bring the ProcessOut team onboard to contribute to our mission of building the future of banking,” Pousaz said.

The ProcessOut team of 14 people will join Checkout.com’s global team of 600 employees across its Paris and London offices. Founded in 2015, the company serves enterprise merchants processing payments globally.

Manuel Huez, Chief Product Officer & Co-Founder of ProcessOut said: “We are excited to be joining Checkout.com at such a pivotal moment. I’d like to thank the dedicated team behind ProcessOut and our investors and mentors who have helped and supported us throughout the journey to make the business what it is today. We are looking forward to the next chapter of this journey and to continue working with some of the largest merchants to optimize their payments.”

Related Posts