TLDR: Fintech firm Checkout.com has achieved a $12 billion valuation, marking a significant recovery and a 30% increase from its last internal valuation. The company is strategically investing in AI shopping agents, partnering with major players like Visa, Mastercard, and Google to revolutionize e-commerce by enabling AI to handle end-to-end purchasing processes for consumers.
London-based fintech company Checkout.com has announced a new internal valuation of $12 billion, reflecting a 30% gain since its last assessment. This valuation signifies a strong rebound for the company, which had previously seen its internal valuation cut from a peak of $40 billion in January 2022 to $11 billion in late 2022 and further to $9.35 billion in 2023. The firm attributes this recovery to ‘healthy growth’ within its business operations.
Checkout.com is now positioning itself at the forefront of a burgeoning retail revolution, placing a significant bet on AI shopping agents as the ‘next big thing’ in commerce. The company envisions a future where artificial intelligence handles the entire shopping journey for consumers, from product discovery and comparison to the final purchase. This ‘agentic commerce’ model aims to eliminate the need for manual browsing, allowing smart assistants to manage transactions seamlessly.
According to Robert Olsen, a Forbes contributor covering transatlantic business news, ‘Checkout.com is bouncing back and positioning itself at the center of a coming retail revolution, where AI agents handle shopping from start to finish.’ The company’s founder and CEO, Guillaume Pousaz, previously held the title of Europe’s wealthiest tech entrepreneur following the $40 billion valuation round, which was backed by prominent investors such as Franklin Templeton, Tiger Global, and the Qatar Investment Authority.
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In a strategic move to facilitate this AI-driven future, Checkout.com has forged key partnerships with industry giants. These collaborations include Visa Intelligent Commerce, Mastercard Agent Pay, and Google’s Agent Payment Protocol (AP2). These partnerships are designed to ensure that AI-driven payments are both secure and reliable, laying the groundwork for widespread adoption of agentic commerce. The company proudly states, ‘We now regularly process more than $1 billion of e-commerce payment volume per day,’ underscoring its significant role in the digital payment landscape. The focus on AI shopping agents is driven by a desire to keep their merchants ahead of the curve, as a company spokesperson noted, ‘Because, as always, we want to keep our merchants ahead.’
