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Tuesday, Sep 22nd

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MGI 360 Ratings - Checkout.com in Commerce & Payment Platforms

MGI 360 LogoSUMMARY: We are initiating the MGI 360 Rating of Checkout.com in the Commerce and Payment Platforms (CPP) market at 56 and a Positive outlook.

OPINION: Checkout.com provides a unified API-first, digital-first payment solution for enterprise-size merchants selling globally. The solution is packaged as a unified platform which brings together a payments gateway, fraud detection, authorization optimization and a range of alternative payment methods thru a single API. The company offers access to a wide variety of options ranging from card acquiring in different regions to alternative payments on all continents via a single highly granular API. Merchants benefit from a broad range of acceptance & payout currencies as well as competitive FX rates to support global sales. A large number of response codes helps increase conversion rates. Company is increasingly aiming at marketplaces and virtual card issuing while planning to tackle POS after that. Name awareness is a challenge making them the industry’s best kept secret for many. 

USE CASE: Large tech-savvy enterprises & mobile oriented online B2C merchants selling globally with volumes above $50M.

COMPANY DESCRIPTION: Checkout.com is led by its original founder and has a headcount of 700+, with most based in London (HQ) with additional locations in San Francisco, Dubai, Sao Paolo, Hong Kong, Singapore and a development & operational base in Mauritius. Checkout.com focusses on Fintech, Retail and Travel as vertical markets. The firm has grown the company in a bootstrapped manner since its inception in 2012 and raised a record Series A round of funding of $230 Million in 2019 and a $150 Million Series B in June of 2020 with valuation around $5.5 Billion. We estimate gross revenues of $750 Mil, net revenues of about $150M with topline growth of 75%+. The company is profitable.

COMPETITORS: Adyen, Stripe, Worldpay

ABOUT MGI 360 RATINGS

MGI 360 Ratings is a comprehensive system for evaluating technology companies. IT organizations use MGI 360 to track suppliers, assess purchasing risks and identify promising new vendors. Vendors utilize MGI 360 to track their markets and evaluate partners. Institutional investors use MGI 360 for independent assessment of tech companies. MGI 360 ratings help lower costs, save time, reduce risks, and identify new opportunities.

The MGI 360 ratings are on a scale from 0 to 100 and reflect company opinions of MGI analysts in five key areas on a scale of 0 to 20:

  • PRODUCT: How strong is the product competitive position?
  • MANAGEMENT: How competent and experienced is the management team?
  • CHANNELS: Does the company have a sales capability and channels needed to bring products to market?
  • STRATEGY: Does the company have a realistic view of the opportunity and a compelling strategy for success?
  • FINANCE: Is the company growing and profitable?

Each of these key criteria is subdivided into numerous sub-categories. In total, over 149 criteria are combined to generate an MGI 360 rating in each specific market space. Companies can have one or more MGI 360 rating - one for each market. MGI 360 ratings are revised as important developments occur. While the MGI 360 rating process is comprehensive, this scoring system is not meant to be a predictor of company solvency, liquidity, absence of accounting fraud or stock performance. Access to MGI 360 Ratings is by subscription.

ABOUT MGI RESEARCH

MGI Research is an independent industry research and advisory firm focused on disruptive trends in the technology industry. Through ratings, industry benchmarks, best practices groups, subscription research, market forecasts, advisory engagements, industry studies and conferences, MGI Research helps clients identify opportunities for reducing IT costs and minimize technology risks. MGI Research analysts work closely with business and technology organizations to help make timely go/no-go IT investment decisions, optimize vendor relationships, and create practical strategies for new initiatives in agile billing, payments management, order management, CPQ, contract lifecycle management and other elements of agile monetization platform (AMP).

For additional information on research coverage of Configure-Price-Quote (CPQ), please see Key Issues in CPQ Research.

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