London tech revises internal tax valuation to $11b
Checkout.com, a London tech start up, has revised its internal tax valuation to $11bn. Its investor valuation earlier this year was a staggering $40bn.
Checkout.com is a digital payment platform for businesses that was valued at $40b after a series D round in January. According to company filings, the firm generated a revenue of $204m in 2020.
Discussing the lowered valuation, Checkout CEO Guillaume Pousaz said that negotiations between the startup’s executives and VCs who want to invest in the company would likely lead to a different valuation. This would need a new funding round which Pousaz doesn’t see happening anytime soon.
Showing confidence in his business, Pousaz said “To be honest, we don’t have to raise again. Never say never, but unlike many fintech companies, we have a proven business model.”