This is the web version of Term Sheet, a daily newsletter about the biggest deals and dealmakers. Sign up to have it delivered to your inbox for free.
Nothing says this place will pop more than millions of dollars in one round for one .
While Europe used to be seen as a bleak place for startups to be founded, that has changed in recent years. Venture capital firms have since settled in the region, pouring billions of dollars into the continent: In September, Swedish fintech Klarna raised $ 650 million at a valuation of $ 10.6 billion. Venture capital firm Sequoia announced a foray into Europe in November, and London-based virtual events startup Hopin raised $ 2.1 billion in the same month.
Add to this list? London-based payment and fraud prevention company Checkout.com. On Tuesday, the startup announced that it had raised approximately $ 450 million in Series C funding led by Tiger Global Management. Greenoaks Capital, DST Global, Coatue Management, Blossom Capital, Endeavor Catalyst and Singapore's Sovereign Wealth Fund GIC also invested.
The funding round increases the valuation to $ 15 billion. This makes it the most valuable unicorn in Europe based on both Klarna and Global Switch in the UK, based on CBInsights data.
The increase highlights a hot topic: payments. Retailers and businesses forced online have led to an explosion of contactless payments worldwide. The same trend has also underscored the need for all related safeguards including fraud prevention.
Affirm, a bustling buy-now-pay-later startup in the US, is slated to begin trading on Wednesday. The company has announced it will raise up to $ 1.8 billion, with the price of shares ranging from $ 41 to $ 44 each, up from $ 33 to $ 38 previously. In that area, Affirm would be valued at over $ 10 billion, surpassing the last private market valuation of $ 5.5 billion.
THE LARGEST US EMPLOYER LOOKS FOR A FINTECH: Late Monday, Walmart announced the launch of a fintech startup with Ribbit Capital, a venture capital firm well known in the fintech space. But the duo were pretty vague in the details. According to a press release, the startup is set to "develop and offer modern, innovative and affordable financial solutions," and CNBC is aimed at customers and employees – which is fabulous. Fantastic. And the same model for many fintech companies.
That said, the union will be one to watch. Huge size, Walmart is the largest employer in the US, and was the top-selling company (even Amazon) in 2020. Ribbit may be rather quiet to the press, but a name that can be heard loud and clear when betting in Robinhood, Affirm and Coinbase.
This partnership also comes about after Walmart tried to make an offer with Microsoft for a piece of TikTok in the summer to bolster the e-commerce offerings of young buyers. TikTok eventually settled on a deal with Oracle to avoid being banned from President Donald Trump.
Twitter: @ Shenlucinda