European payments provider Checkout.com has been granted an operational e-money licence in France.
The Autorité de Contrôle Prudentiel et de Résolution (ACPR), the regulatory arm of the Banque de France, approved the London-based fintech’s application.
The firm, who earlier this year announced a “record-breaking” Series A fundraise of $230m, will now be able to issue, manage and provide payment services to European businesses from a French-regulated and autonomous entity.
Guillaume Pousaz, CEO, Checkout.com, said: “France is one of the most critical eCommerce markets in Europe and of great strategic importance to the continued success of our business.
“We are thrilled to be licensed as an E-Money institution at a time when French businesses have proven themselves as leaders in the ever-changing eCommerce space.
“As a company whose own leadership team has meaningful connections to the French community, we look forward to being a part of that growth.”
With an operational foothold across Europe, Asia Pacific and the US, the license is set to improve its offerings to European merchants by providing them services through its global payment processing platform.
Checkout.com already supports some of France’s top online companies, including Veepee (formerly Vente Privee), Aircall and other international businesses such as easygroup, Virgin Active, TransferWise and Dashlane through their French operations.
To facilitate its expanding French business, Checkout.com will also look to grow its Paris office, with plans to hire more than 50 new employees in the next year.
“At Business France, we help to attract some of the world’s fastest-growing fintechs to set up here, employing people from our highly skilled tech and startup community,” commented Pierric Bonnard, Directeur du bureau de Business France au Royaume-Uni.
“We are thrilled that a forward-thinking, global company like Checkout.com has been granted a licence here to further its mission of building the future of banking.
“We look forward to working closely with them to continue growing a tech ecosystem in France with global reach and influence.”
