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Chicago Growth Partners, Trident help 2Checkout raise $60m

25 Apr 2014

payments_lrgPayments-as-a-service startup 2Checkout has closed a $60m investment round, which was led by Chicago Growth Partners and Trident Capital.

2Checkout’s management also participated in the round, as did “strategic individuals”, said the company.

2Checkout’s payment processing service optimises language, currency and payment methods for visitors to e-commerce websites depending on their location.

The company said it will use the funds to accelerate expansion of its global payments processing platform.

Chicago Growth managing partner Devin Mathews said, “The global e-commerce market is massive and continues to increase at a double digit rate of annual growth.

“Online payments are a critical component of e-commerce and the providers in the space are consolidating into a few global platforms. 2Checkout will emerge as one of the global leaders in payments. No other payments processor can make those claims.”

Other companies backed by Trident Capital include online security business Prolexic Technologies, which raised a $30m Series C last year.

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