Checkout.com, a UK-based provider of payment technology for business customers, quietly launched its own corporate venture arm earlier this year, Sifted has reported.
The unit will focus on fintech deals, chief executive Guillaume Pousaz told Sifted, adding that the company will only invest in startups that complement its core business and “make sense” to its shareholders.
Founded in 2012, Checkout provides a digital payment processing platform that helps businesses accept larger volumes of payments and speed up their payment processing. It can process more than 150 currencies through debit and credit card transactions as well as other payment methods.
The company has already completed a corporate venturing deal, participating in a $60m series B round for Singapore-based cross-border payment network Thunes in September this year.
Pousaz said Checkout has deployed between $40m and $50m across three deals in 2020. It closed a series B round led by hedge fund manager Coatue and backed by Insight Partners, DST Global, Blossom Capital and Singapore’s GIC fund at $150m in June this year.
Checkout’s corporate venturing investments will be funded by the proceeds from the series B round as well as its profits.