Checkout.com Valued at $12B in Employee Stock Buyback

London-based fintech giant Checkout.com announced on Friday that it has reached a $12 billion valuation as part of a newly launched employee stock buyback program.

A Rollercoaster Valuation History

While reaching a $12 billion valuation solidifies Checkout.com’s status as a rare “decacorn”—a milestone that secured founder and CEO Guillaume Pousaz a spot on the Forbes billionaires list—the figure is a double-edged sword. During the peak of the tech boom in 2022, the company commanded a massive $40 billion valuation after closing a $1 billion Series D round. However, as the venture capital market cooled, Checkout.com internally slashed its valuation to $11 billion by the end of 2022, and further reduced it to $9.35 billion in 2023, according to a company spokesperson. The new $12 billion figure represents a nearly 30% recovery from that recent low.

Understanding the $12 Billion Figure

This updated valuation does not stem from fresh venture capital. Instead of outside investors injecting capital through a traditional funding round or tender offer, Checkout.com is independently funding the employee share buyback. A company spokesperson confirmed that the $12 billion valuation is based on a recent 409A appraisal—an independent, third-party assessment of a private company’s fair market value. While a 409A valuation lacks the direct market validation of a professional investor’s term sheet, it remains a regulated and objective benchmark rather than an arbitrary internal adjustment.

How Checkout.com Compares to Rival Stripe

Checkout.com is not the only payments giant to navigate these turbulent market waters. Its primary competitor, Stripe, saw its valuation plummet from a peak of $95 billion in 2021 down to $50 billion in 2023. Stripe has since rebounded, reaching a $91.5 billion valuation in February through employee tender offers supported by external investors. Furthermore, Axios recently reported that Stripe is currently negotiating another stock buyback that could value the company at $106.7 billion.

Strong Fundamentals and a Path to Profitability

Despite competing against one of the most highly valued startups in history, Checkout.com’s operational metrics remain robust. The London-based payments processor, which services major global e-commerce platforms like eBay and Pinterest, announced it achieved profitability by the end of 2024 and remains on track for full-year profitability in 2025.

The company currently processes approximately $1 billion in e-commerce transactions daily. To support this scale, Checkout.com expanded its workforce by hiring 300 employees this year, bringing its total headcount to 2,000 people across 19 global offices.

Eligibility Details for the Share Buyback

The newly announced stock buyback program will be open to employees who have been with the company for at least one year. While Checkout.com confirmed these eligibility criteria, the company declined to disclose the total financial scale of the buyback or the specific number of shares being repurchased.