Checkout.com reached $750 million in annualised net revenue, growing 28% year-over-year on a trailing 12-month basis, according to Checkout.com’s September 2026 update. The London-based payments company expects total payment volume to reach $480 billion for full-year 2026 and c.$150 million in Adjusted EBITDA for full-year 2026. In 2025, it processed over $300 billion in total volume, a 64% increase year-over-year. These Checkout.com statistics come from the company’s own newsroom releases and annual letters, because it is privately held and publishes no global group accounts.
Trade press is cited by name where used. The figures cover revenue, profit, volume, merchants, the US business, peak-season performance, headcount and footprint. Where the company gives no figure, the text says so rather than estimating.
Key Takeaways
- Total processed volume grew 64% in 2025 while net revenue grew above 30%, so volume grew at most about 2.1 times as fast as revenue.
- The US now accounts for 20% of the company’s payment volumes, up from 15% the year before.
- Checkout.com’s top ten merchants account for just 18% of revenues in 2025, the same share the top 10 accounts represented in 2024.
- The number of merchants processing over $1 billion a year reached 63, up from 39 just a year ago, according to CEO Guillaume Pousaz.
- The company reported an adjusted EBITDA margin exceeding 10% for 2025.
- According to Tech.eu, the $12 billion valuation of 2025 marks an uplift on the $9.35 billion of 2023 but is lower than the $40 billion of 2022.
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- Annualised net revenue: $750 million, as of September 2026.
- 2025 total processed volume: over $300 billion.
- Expected 2026 payment volume: $480 billion at group level.
- Enterprise merchants: over 1,700.
- Employees: 2,300 worldwide.
- Black Friday Cyber Monday 2025 volume: over $5.2 billion, per Checkout.com’s BFCM release.
What does volume outgrowing revenue say about Checkout.com’s take rate?
Compiled from 33 source entries: 30 from Checkout.com’s newsroom releases, annual letters and website, plus 3 from Tech.eu.
- Source publication dates run from January 2022 to September 2026.
- Company disclosures come first; Tech.eu supplies valuations, the 2025 staff count and the parent’s non-disclosure line. Figures are reviewed on a rolling basis and updated when Checkout.com publishes new data.
- In 2025, net revenue grew above 30% for the second consecutive year.
- During the phase Pousaz calls the Velocity Years (2019-2024), Checkout.com scaled at a 50% net revenue CAGR, according to Pousaz.
- In 2025, Checkout.com handled nearly one billion unique consumer cards (up 32%) across nine billion transactions.
- In September 2025, it said it is set to process more than $300 billion in total eCommerce payment volume in 2025.
- The expected $480 billion for 2026 would be 1.6 times the $300 billion mark passed in 2025.
| Metric | Value | Period |
|---|---|---|
| Annualised net revenue | $750 million | September 2026 |
| Net revenue growth, trailing 12 months | 28% | September 2026 |
| Adjusted EBITDA (expected) | c.$150 million | Full-year 2026 |
| Total payment volume (expected) | $480 billion | Full-year 2026 |
| Total processed volume | over $300 billion | 2025 |
| Enterprise merchants | over 1,700 | September 2026 |
| Employees | 2,300 | September 2026 |
| Countries of operation | 56 | September 2026 |
| Acquiring licenses | 10 | September 2026 |
Source: Checkout.com newsroom, September 2026, and CEO letter, February 2026
Checkout.com Volume Growth by Metric
- In 2025, total processed volume rose 64% year-over-year.
- The Black Friday Cyber Monday 2025 weekend brought a 62% year-on-year growth in the total volume of ecommerce payments processed across its network.
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Volume growth running ahead of net revenue growth is common for processors that win large enterprise accounts. Those merchants tend to negotiate lower rates per transaction. Readers can set that trajectory against Adyen’s processed volume, another enterprise acquirer.
Checkout.com Net Revenue Growth
- In January 2025, Checkout.com was targeting 30% net revenue growth in 2025.
- For 2024, the core Commerce and Fintech business accounts for 95% of total volumes, per the January 2025 release.
- Pousaz wrote that “our monthly net revenue exceeds our total annual run rate revenue at the time of our Series A”.
| Period | Net revenue growth | Basis |
|---|---|---|
| 2019 to 2024 | 50% | Compound annual growth rate, “Velocity Years” phase |
| 2024 | 40% | Overall net revenue |
| 2024 | 45% | Commerce and Fintech core business |
| 2025 | above 30% | Net revenue, full year |
| 12 months to September 2026 | 28% | Trailing 12-month basis |
Source: Checkout.com newsroom and CEO letters, January 2025 to September 2026
What is Checkout.com’s current turnover?
Checkout.com’s latest disclosed figure is $750 million in annualised net revenue, stated in September 2026. According to Tech.eu, its global parent company, Checkout Payments Group, does not disclose financial figures, so no audited group revenue total is public.
How concentrated is Checkout.com’s merchant base?
- Per Pousaz’s 2025 letter, 63 merchants each process over $1 billion a year, up from 39 a year earlier.
- None of its six commercial territories represent more than 20% of the total revenue.
- Checkout.com now supports over 1,000 enterprise merchants globally, per Pousaz’s 2025 letter, and now serves over 1,700 enterprise merchants as of September 2026.
- Its Merchant Net Promoter Score, a customer satisfaction measure rather than a merchant count, rose to 63 in 2024.
The billion-dollar club added 24 members in a year. Concentration stayed flat even as the largest merchants multiplied, which lowers the risk that one lost account dents revenue.
| Metric | Value | Period |
|---|---|---|
| Enterprise merchants | over 1,000 | 2025 |
| Enterprise merchants | over 1,700 | September 2026 |
| Enterprise merchant base growth | 20% | 2025 |
| New global enterprises joining | over 300 | 2024 |
| Top 10 merchants’ share of revenue | 18% | 2025 |
| Merchant Net Promoter Score | 63 | 2024 |
Source: Checkout.com letters and press releases, 2025 to 2026
Who are Checkout.com customers?
Checkout.com sells to enterprise merchants, and its September 2026 release lists partnerships with enterprise digital brands Microsoft, Spotify, and Best Buy. It also names HelloFresh, eBay, Freenow, Uber, Pinterest, Vinted, Klarna, ASOS, and Sony among brands it worked with over the prior 12 months. Klarna’s own growth is tracked in our Klarna statistics.
How is Checkout.com’s US business changing?
- The US is now 20% of the company’s payment volumes, up from 15% the year before.
- In 2024, the US business grew over 80%.
- US total processing volume is on track to exceed $100 billion by the end of the year in 2026.
- Checkout.com is now one of only three companies processing payments through a Merchant Acquirer Limited Purpose Bank.
- The MALPB launch completes the third phase of Checkout.com’s MALPB process, taking the company from application acceptance to charter approval to active operation.
| Metric | Value | Period |
|---|---|---|
| Share of company payment volumes | 20% | 2026 |
| Share of company payment volumes | 15% | Year before |
| US payment volume growth | 126% | Q2 2026 vs Q2 2025 |
| US processing volume growth | over 120% | 2026 year to date |
| US volume growth | over 80% | 2024 |
| US total processing volume | on track to exceed $100 billion | End of 2026 |
Source: Checkout.com newsroom, January 2025 to September 2026
By the numbers: Checkout.com recently announced the US as its fastest growing region, with processing volumes growing over 120% year to date. It said Q2 2026 payment volume in the US has grown 126% against Q2 2025, and that the US now accounts for 20% of the company’s payment volumes, up from 15% the year before. Direct acquiring under the Georgia charter reduces reliance on third-party intermediaries for that growth.
For a US comparison, our Stripe payment volume figures track a rival in the same enterprise segment.
Recent Developments
- September 29, 2026: Checkout.com said it has reached $750 million in annualised net revenue and expects to process $480 billion in total payment volume at group level for full-year 2026.
- September 10, 2026: Checkout.com said Q2 2026 payment volume in the US has grown 126% against Q2 2025.
- September 9, 2026: Checkout.com announced the launch of direct acquiring in the US under its Merchant Acquirer Limited Purpose Bank (MALPB) charter in Georgia.
- September 8, 2026: Checkout.com said it will provide card acquiring and debit routing capabilities for Best Buy Marketplace.
- September 3, 2026: Checkout.com announced its partnership with Minor Hotels, a global hospitality group with more than 640 hotels across 67 countries.
Checkout.com Profit and the $12 Billion Valuation
- Checkout.com announced a profitable end to 2024 in January 2025.
- For 2025, Pousaz said the core business was back to full-year EBITDA profitability, with no adjustments.
- Checkout.com continues to be profitable year-to-date in 2026, with expanding profit margins.
- With strong free cash flow, Checkout.com is investing in new products and segments, including Payouts and Issuing.
| Metric | Value | Period |
|---|---|---|
| Profit status | Profitable end of the year | 2024 |
| EBITDA status | Full-year EBITDA profitable | 2025 |
| Adjusted EBITDA margin | exceeding 10% | 2025 |
| Adjusted EBITDA (expected) | c.$150 million | Full-year 2026 |
Source: Checkout.com releases, January 2025 to September 2026
Why it matters: Checkout.com said in its September 2026 update that it continues to be profitable year to date and expects to achieve $150 million in Adjusted EBITDA for full-year 2026. Profit at that level lets the company pay for Payouts, Issuing and Business Account from its own cash flow rather than from new outside capital.
Checkout.com Valuation and Funding
- In 2022, Checkout.com raised $1 billion in a Series D round, according to Tech.eu.
- Between 2019 and 2024, Checkout.com was fueled by $1.8 billion in capital.
- In September 2025, it announced a share buyback for employees.
- The buyback was based on a new valuation of $12 billion.
- The 2025 valuation is about 1.28 times the 2023 figure, while it equals 0.3 of the 2022 valuation.
- Through the buyback, Tech.eu reported, Checkout.com lets its around 2,000 staff sell some shares back to the company.
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Checkout.com Black Friday and Cyber Monday Statistics
- Over the Black Friday and Cyber Monday 2025 weekend, Checkout.com recorded record payment volumes of over $5.2 billion.
- On Black Friday alone, Checkout.com’s total processing volume (TPV) reached $1.6 billion.
- It processed almost 100 million (total of 98.4 million) transactions over the weekend, with 62 million unique payment instruments transacted.
- Its Cyber Monday peak came at 10:07 am, reaching 32,900 transactions per minute.
- Transactions took 304 milliseconds, which is 30% faster than last year, on average.
- In the UK, spending in Black Friday’s 11 pm hour increased by 85% compared with the same hour a month earlier.
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In the UK on Black Friday, total spend was highest between 8 am and 12 pm, with these four hours accounting for 32% of the day’s overall spend. A year earlier, 67 merchants processed over $10 million in a single day on Black Friday 2024. Wider seasonal patterns appear in our Black Friday spending data.
Checkout.com Employees, Countries and Acquiring Licenses
- Checkout.com is headquartered in London with 2,300 employees worldwide as of September 2026.
- Checkout.com operates across 56 countries with 10 acquiring licenses.
- In 2025, Checkout.com worked with regulators in Canada to secure a new license and launch its own domestic acquiring service.
- It secured its local license in Brazil on December 26, 2025, then paused that launch.
| Metric | Value | Period |
|---|---|---|
| Employees | 2,300 | September 2026 |
| Employees | 2,000 | September 2025 |
| Headcount growth | 12% | 2024 |
| Headcount growth target | 15% | 2025 |
| Planned new team members | 300 | 2025 |
| New employees added | more than 1,500 | 2020 and 2021 |
Source: Checkout.com press releases and CEO letter, 2025 to 2026
Headcount rose by 300 between September 2025 and September 2026.
| Metric | Value | Period |
|---|---|---|
| Countries of operation | 55 | 2024 |
| Countries of operation | 56 | September 2026 |
| Acquiring licenses | nine domestic | 2024 |
| Acquiring licenses | 10 | September 2026 |
| Currencies supported | more than 145 | 2024 |
| Offices | 19 | September 2025 |
Source: Checkout.com newsroom, January 2025 to September 2026
Checkout.com Payment Performance and AI
- Checkout.com’s vault now stores over 2.5 billion cards, per its January 2025 release.
- Intelligent Acceptance optimises over 26,000 transactions per minute, resulting in $9 billion in additional revenue for its merchants since launch.
- Revenue recovery for merchants is now accelerating at $1 billion every 35 days, according to the 2024 annual letter.
- Pinterest improved global performance by 138 basis points in 2025.
| Metric | Value | Period |
|---|---|---|
| Cards stored in vault | over 2.5 billion | January 2025 |
| Transactions optimized per minute | over 26,000 | January 2025 |
| Additional merchant revenue since launch | $9 billion | January 2025 |
| Additional merchant revenue since launch | $15 billion | September 2025 |
| Revenue recovered for merchants | $6.6 billion | 2024 |
| Pinterest acceptance-rate gain | 138 basis points | 2025 |
| FanDuel acceptance-rate gain (core US market) | 60 basis points | 2025 |
Source: Checkout.com releases and letters, 2025 to 2026
Key finding: Checkout.com’s 2025 letter reports that FanDuel improved by 60 basis points in just a few months in their core US market. A gain of that size on a large sportsbook’s card volume shows why enterprise merchants weigh acceptance rates alongside processing fees when they pick a provider.
Network tokens and the card vault feed the same acceptance engine; our payment tokenization adoption data covers the wider industry shift.
Checkout.com Company Timeline
- Checkout.com secured its first acquiring license in the UK in 2012.
- By 2013, Checkout.com was a principal member of both Visa and Mastercard; by 2015, a fully certified payment processor, Pousaz wrote.
- In July 2025, Checkout.com launched card issuing in partnership with Visa, the same month it began launching direct acquiring for Canada.
- Checkout.com processed its first transaction on Microsoft Azure in December 2025.
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Readers comparing processors can set these dates against wider payment gateway market statistics.
Is Checkout.com a legit company?
Yes, Checkout.com operates as a regulated payments company. Its website states that money transmission services in the US are provided by Checkout US Inc. (NMLS # 1791692). The company also announced the launch of direct acquiring in the US under its Merchant Acquirer Limited Purpose Bank (MALPB) charter in Georgia, and by 2013 it was a principal member of both Visa and Mastercard.
Conclusion
In September 2026, Checkout.com said it had reached $750 million in annualised net revenue, growing 28% year-over-year on a trailing 12-month basis. It expects $480 billion in total payment volume for 2026. The pattern across these figures is volume racing ahead of revenue, a US business whose share of payment volumes rose over the past year, and a 2025 valuation set before the full-year return to profit.
The next markers to watch are the full-year 2026 Adjusted EBITDA result, the first full year of US direct acquiring, and any relaunch in Brazil.
