📈 Checkout.com shifts focus
Checkout.com, a UK-based payment processor, is shifting its focus away from crypto. Meron Colbeci, Chief Product Officer, stated that crypto represented less than 4% of its total volume. The company is committed to e-commerce and fintech. Colbeci said, "We intend not to get distracted," indicating that their primary focus remains on core business sectors.
🧾 Revenue and valuation swings
Checkout.com has seen a rollercoaster in valuations. Initially valued at $40B in 2022, it faced cuts down to $9.35B in 2023. Despite the drop, the firm reported a 40% revenue growth in 2024, proving that its focus on e-commerce and fintech has been fruitful.
🌍 New products and global expansion
The company launched several new products, including a centralized transaction data vault and a Checkout Business Account to optimize cash flow. It also announced plans to expand to Brazil and Canada, following a launch in Japan earlier this year. Checkout.com continues to build global partnerships.
🎾 Sponsorship and partnerships
Outside of fintech, Checkout.com partnered with world padel star Ale Galán, signing a three-year sponsorship deal. Padel is gaining popularity, especially in tech circles where Checkout.com operates. The company also partners with major brands like Sainsbury and Sony, further strengthening its non-crypto alliances.
Will Checkout.com regret cutting crypto ties?
