Checkout.com, the fourth largest fintech of the world, has established in Barcelona its headquarters for the South of Europe. From its office in the Catalan capital, the provider of digital payments in the cloud, will direct its operations in Spain, Portugal, Italy and Greece. The company, which tripled in value last January to $ 15 billion after closing a financing round of $ 450 million, explains that he has chosen Barcelona because of the great acceleration of electronic commerce throughout the southern European region, and because of its nature as hub of digital businesses in the region.
In fact, according to data from Statista’s Digital Market Outlook 2020, Southern Europe already showed great opportunities for the ecommerce before the pandemic, with strong adoption rates in Spain (58%), Italy (52%) and Greece (50%). And these growth figures are expected to exceed those of other regions in Europe in the coming years, as the level of e-commerce adoption remains below 82% in the UK and 71% in Germany.
Thus, he calculates that between the four countries there could be 153 million customers of ecommerce in three years, and Spain, with 35 million customers who will use online services in 2024, would be growing at rates similar to those of the fastest growing markets, such as China.
The company, which is already the payment provider of many of the main e-commerce companies in the region such as Mango, Farfetch, Glovo, Fintonic or Klarna, thus redoubles its investment in the region, with the intention of helping local companies with your online payments, both in your national operations and in your internationalization processes.
Checkout.com notes that its cloud payments platform enables merchants to manage payments at scale, “while achieving better rates of return and acceptance of payments around the world.” The company, with more than 1,100 workers and 20 employees in its Porto and Barcelona offices, expects to double its workforce in the next 12 months in the Southern Europe region.
“Adapting our proposal to the local characteristics of each market means that payments are not a barrier in the scalability of fast growing online companies, allowing them to unlock more income opportunities and offer customers a payment experience without fringes” , says Antoine Nougué, CEO of Checkout.com in Europe. The company, which launched in 2012, notes that it offers “faster and more reliable payments in more than 150 currencies, anti-fraud filters and an automated reporting system, all through a single API.” In addition, they accept the main international credit and debit cards, as well as the most popular local and alternative payment methods.