Fintech Friday: UK’s Checkout.com hits record valuation of $40 billion

Fintech Friday is our regular check-in here at Spreckley, where we share all the most interesting and useful financial services and financial technology news, innovations and trends.

Looking at the trending Fintech topics that are most prominent in the news this week, we start by looking at how Checkout.com’s founder is now worth $20bn as his payments company hits a record valuation, becoming the UK’s most valuable fintech at $40bn.

We then venture on to discover more about how the UK fintech scene has seen record investment in 2021, following an earlier pandemic slump in 2020.

Tech founder worth $20bn as payments company hits record value

Firstly, this week, The Telegraph reports that Checkout.com’s founder Guillaume Pousaz is now worth $20 billion, as his payments company hits a record valuation of $40 billion.

“London-based Checkout.com has surpassed Revolut to become the UK’s most valuable technology start-up, securing $1bn in funding from a string of international investors,” reads the report.

“Checkout.com, which handles payments for Netflix, Pizza Hut and Sony as well as other fintech companies such as Klarna and Revolut, announced the funding on Tuesday.”

UK fintech sees record investment in 2021 following pandemic slump in 2020

Elsewhere in the Fintech scene, as reported by Fintech FuturesBritish fintech start-ups saw a record amount of investment over the course of 2021, following an earlier pandemic-induced slump in 2020.

“The UK’s fintech scene saw a record year for investment in 2021, exceeding $11.6 billion – a 217% increase from 2020,” reads the report.

“But despite the sector recovering from the pandemic, which saw investment figures stagnate last year, the report warns the UK is still lacking growth capital.”