UK payment platform acquires French tech startup

This the first acquisition for the London-based fintech company after their $230 million Series A funding round in 2019

French tech startup

UK payment platform acquires French tech startup. Source: shutterstock.com

Checkout announced the acquisition of ProcessOut, a French technology startup. ProcessOut will join Checkout business to boost its service offering for enterprise merchants processing payments worldwide.

Its technology provides companies with a dashboard to monitor and benchmark payment processing capabilities. In addition to that, a smart router optimizes payment processing in real-time to enhance performance and reduce costs.

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 transaction analyzed in 2019, ProcessOut fits in this category and as such we are delighted to make them our first acquisition. Combining their expertise and features to our platform will allow us to offer our global merchants with a deeper set of actionable insights to improve their acceptance rates and maximize the cost efficiency of their payments
Guillaume Pousaz, Founder and CEO of Checkout

The ProcessOut team will join Checkout’s growing Paris and London offices. Along with that, Checkout, which has 11 offices around the world, revealed its plans to expand the company from 600+ employees to 1000 over the next year.

SEE ALSO:

Categories: All materials Fintech News