Unlock the Editor’s Digest for free with the selection of Roula Khalaf’s favorite stories in this weekly newsletter. One of the top stories is about Céline Dufétel, the president and chief operating officer of UK payment processing company Checkout.com, who is leaving the group. Dufétel joined Checkout’s New York office in 2021 from US asset manager T Rowe Price but is now departing after a turbulent period for the company. Checkout.com, once Europe’s most valuable start-up, had to slash its valuation to $11bn in December 2022 from $40bn earlier in the year due to various financial challenges.
Operating losses at Checkout.com’s London-registered entity tripled to $126mn in 2022, while revenue fell to $246.3mn from $259.6mn the previous year due to lower consumer spending and a slowdown in cryptocurrency trading volumes. The company, which operates globally including in the US and Asia, highlighted challenges faced by its fintech and crypto customers, attributing them to tougher macroeconomic conditions. Checkout.com also faced regulatory scrutiny from French watchdog ACPR over staffing levels in its compliance department.
Founded in 2012 by Swiss businessman Guillaume Pousaz, Checkout.com initially focused on tech-driven payment processing and grew rapidly alongside the ecommerce boom. The company’s high-profile customers include eToro, Crypto.com, and Circle. Despite recent challenges, a person familiar with Checkout.com indicated that the group is on track to achieve profitability this year at the EBITDA level. Checkout.com did not immediately respond to requests for comments on Dufétel’s departure.
In summary, the departure of Céline Dufétel, the president and COO of Checkout.com, marks a significant development in the company’s journey as it navigates financial challenges and regulatory scrutiny. Despite facing a valuation cut and falling revenue, Checkout.com remains focused on profitability and continues to serve a diverse range of global customers. The company’s future direction and strategic initiatives will be closely watched in the coming months as it seeks to stabilize its operations and regain market confidence amidst a challenging industry landscape.
Unlock the Editor’s Digest for free with the selection of Roula Khalaf’s favorite stories in this weekly newsletter. One of the top stories is about Céline Dufétel, the president and chief operating officer of UK payment processing company Checkout.com, who is leaving the group. Dufétel joined Checkout’s New York office in 2021 from US asset manager T Rowe Price but is now departing after a turbulent period for the company. Checkout.com, once Europe’s most valuable start-up, had to slash its valuation to $11bn in December 2022 from $40bn earlier in the year due to various financial challenges.
Operating losses at Checkout.com’s London-registered entity tripled to $126mn in 2022, while revenue fell to $246.3mn from $259.6mn the previous year due to lower consumer spending and a slowdown in cryptocurrency trading volumes. The company, which operates globally including in the US and Asia, highlighted challenges faced by its fintech and crypto customers, attributing them to tougher macroeconomic conditions. Checkout.com also faced regulatory scrutiny from French watchdog ACPR over staffing levels in its compliance department.
Founded in 2012 by Swiss businessman Guillaume Pousaz, Checkout.com initially focused on tech-driven payment processing and grew rapidly alongside the ecommerce boom. The company’s high-profile customers include eToro, Crypto.com, and Circle. Despite recent challenges, a person familiar with Checkout.com indicated that the group is on track to achieve profitability this year at the EBITDA level. Checkout.com did not immediately respond to requests for comments on Dufétel’s departure.
In summary, the departure of Céline Dufétel, the president and COO of Checkout.com, marks a significant development in the company’s journey as it navigates financial challenges and regulatory scrutiny. Despite facing a valuation cut and falling revenue, Checkout.com remains focused on profitability and continues to serve a diverse range of global customers. The company’s future direction and strategic initiatives will be closely watched in the coming months as it seeks to stabilize its operations and regain market confidence amidst a challenging industry landscape.
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