Checkout.com Valued at $40 Billion After Latest Funding Round

Checkout.com has almost tripled its valuation after raising $1 billion in a funding round from investors including Tiger Global Management and the Qatar Investment Authority.

The round values the payments business at $40 billion, according to a statement Wednesday. That makes it the second most valuable European startup after Sweden’s $46 billion-rated Klarna, according to CB Insights.

Checkout.com, which processes payments for businesses such as Pizza Hut Inc. and Coinbase Inc. and was last valued at $15 billion, has grown in tandem with the broader e-commerce industry. The company said the funds would be used to expand in the U.S. ...