Checkout.com has reached a US$12 billion valuation through a recent employee stock buyback program.

The London-based payments firm, which works with clients such as eBay and Pinterest, last reported a valuation of US$9.4 billion in 2023 after peaking at US$40 billion in early 2022.

Unlike previous rounds, the new valuation is based on an independent 409A assessment and comes without new investment from outside parties.

The company said it became profitable by the end of 2024 and is on track for a full year of profitability in 2025.

Checkout.com processes about US$1 billion in payments daily and has expanded to 2,000 employees across 19 offices.

Employees with at least one year of tenure are eligible for the buyback, though details on the size of the program were not shared.

🔗 Source: TechCrunch