London-based payment solutions provider Checkout.com has raised $230m in a Series A funding round led by Insight Partners and DST Global.

The round is being touted as the largest fintech Series A round ever in Europe.

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In terms of worldwide ranking, the round is said to be the third largest fintech Series A round.

As part of the deal, Insight managing partner Deven Parekh will join the Checkout.com board.

Insight and DST were joined by Singapore’s sovereign wealth fund GIC, Blossom Capital, Endeavor Catalyst and other strategic investors in the fundraising.

With the infusion, Checkout.com aims to continue its growth in Europe, US and the Middle East.

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It also plans to expand into Asia and Latin America utilising the new capital.

Checkout.com founder Guillaume Pousaz said: “Bringing world-class investors on board for our first funding round is a validation of everything the Checkout.com team has worked hard to achieve over the years and a way to flag just how serious we are about building a global leader that can serve any business, in any geography.

“The capital will help us increase the speed at which we roll out new products to address our merchants increasingly complex needs.”

Checkout.com offers access to various payment methods and geographies such as major credit and debit cards, online banking, PayPal, Apple Pay and other eWallets.

It counts Samsung, Easygroup, Getty Images, Deliveroo, Transferwise, Patreon and Virgin Active as clients.

Checkout.com has employee strength of 345.

Plans are on to triple the headcount in the next three years and expand into new product lines.