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Checkout.com triples office space as revenues grow 60%

Guillaume Pousaz, Founder of Checkout.com

London-based Checkout.com has announced that it will move its headquarters to Old Street to room 100 new hires, as the latest accounts reveal a 60% net revenue growth and a 150% growth in payment processing volumes.

In its annual accounts for 2018, Checkout.com revealed a 60% growth in revenues for its European operations, bringing total revenues to $74.8m in 2018, up from $46.8m in 2017.

The growth was supported by a 150% increase in the volume of payments processed by Checkout.com’s technology.

The growth has meant that the fintech unicorn has outgrown its Fitzrovia offices in just over a year, and the new office enables Checkout.com to launch its largest recruitment drive to date, across engineering, commercial and product functions, reaching 300 employees in London by the end of 2019. This is up from 150 a year earlier.

The company also on track to employ 600 people in London by the end of 2020, as well as 1000 people in total, globally.

In a statement, Guillaume Pousaz, founder and CEO of Checkout.com, said: “Our new headquarters is three times as big as the old one and that’s a clear statement of our commitment to London from where we can build a genuinely global business.

“The UK is home to the largest e-commerce market in Europe and we are proud to provide payments to many of the country’s biggest brands including companies in traditional sectors like media and travel, as well as emerging e-commerce and fintech businesses.”

Checkout.com has signed up companies including Adidas, Virgin, EasyGroup, TransferWise and Yoyo Wallet to its payments technology.

The old office in Fitzrovia covered 18,000 square meters, while the new global headquarters cover over 63,000 square meters and include a terrace, library, coffee shop and gym.

In May, Checkout.com raised $230m in a Series A round led by growth investors Insight Partners and DST Global along with Singapore’s sovereign wealth fund GIC, Blossom Capital, Endeavor Catalyst and other strategic investors.

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