becomes one of the most valuable fintechs globally announces a $150m Series B funding round, tripling the value of the online international payments business.

The $5.5bn valuation reflects a growing business demand for transformative online payment solutions that perform across all geographies and channels.’s online transaction numbers had already increased by 250% comparing May ’19 and May ’20. Global lockdowns have further accelerated’s growth as businesses have rapidly pivoted online.

The Series B funding was led by Coatue, along with participation from existing investors, including Insight Partners, DST Global, Blossom Capital, and Singapore’s Sovereign Wealth Fund, GIC. will use these funds to further strengthen its balance sheet, bringing available cash to over $300m.

The company will also invest in the development of new innovative products, including its upcoming advanced Payouts solution and the capability to accelerate settlement times.

The Series B fundraise follows a record-breaking $230m Series A in May 2019, which was Europe’s largest fintech Series A round of funding ever. processes over 150 currencies and employs over 750 staff across 13 offices globally.

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