UK-based global payment solutions provider Checkout.com has completed the acquisition of Australia-based startup PinPayments for an undisclosed amount, according to media reports.
The deal will allow Checkout.com to access Australia’s $33 bn eCommerce market and expands the company’s reach in the Asia-Pacific (APAC) region.
Established in 2013 by Grant Bissett and Dominic Pym, Pin Payments serves more than 12,000 businesses across Australia and New Zealand. It supports eCommerce platforms and shopping carts including WooCommerce, Shopify, BigCommerce and Magento by facilitating card payments from customers.
Guillaume Pousaz, Founder and CEO of Checkout.com told the media, “Australia is a key market for our business. The acquisition of Pin Payments represents our investment to serve Australian entrepreneurs with world-class technology and a truly global acquiring network.”
“In PinPayments, we found an awesome team that shared a similar dedication to solving problems for businesses with innovative financial technology. We look forward to welcoming them to our team and working together.”
Earlier this year, Checkout.com bought ProcessOut, a France-based payment company, for an undisclosed sum. It was the first acquisition for Checkout.com, which raised a Series A round of $230 million last year, backed by investors including Singapore’s sovereign Wealth Fund GIC, DST Global and Insight Partners, an early investor in Twitter and Alibaba.
Late last month, Checkout.com was the first payments firm to join Facebook’s Libra Association after Visa, Mastercard, and Stripe exited the program in October.
Currently, Checkout.com has 700 employees in 10 offices around the world and is valued at just under $3.01 billion.