Checkout.com losses widen to £100 million after ‘return of customers to physical retail’

The UK’s most valuable fintech firm today posted a £100 million loss as it blamed high inflation and a normalising of consumer shopping habits after the pandemic for its sluggish growth. Checkout.com, which manages payments for e-commerce sites and attracted a valuation of $40 billion in a 2022 funding round, posted a net loss of $126.3 million (£100.6 million) for 2022, a more than quadrupling on the $25 million loss the previous year, while revenues slipped 5% to $246.3 million. “Clients in the fintech sector have also been impacted by the macroeconomic conditions, with lower trading volumes observed particularly among emerging digital currency clients.”