Fintech startup Checkout.com to cut 5% of staff

The Checkout.com payments platform team will lay off about 100 employees to sharpen focus on ‘strategic priorities’. Bloomberg.

The report noted similar actions by other technology companies amid funding slowdowns in the sector.

In January 2022, Checkout.com raised $1 billion at a $40 billion valuation. At that time, the staff numbered 1,700. The platform operates in 19 countries.

In recent years, the processing company has partnered with cryptocurrency firms such as Coinbase and Binance. CFO Celine Dufetel at the time said that this segment accounted for more than half of payments volume.

Currently, Checkout.com may be facing some difficulties amid a contraction in trading volumes of bitcoin exchanges.

The Block reported that the firm launched a service for settlements in stablecoins in June. The platform has also begun developing products related to payouts in digital assets and crypto-processing services for merchants.

Earlier in March 2022, Checkout.com became a partner of the payments company Binance — Bifinity.

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