Checkout.com had losses over £100 million.
Checkout.com, a payments platform, is said to have lost £100.5 million in its UK business.
Checkout.com's 2022 account net losses have increased 400% from its $25 million loss in 2021. A modest decrease from $260 million in 2021 to $246 million in 2022 was reported by the London-based fintech.
The 2022 sales drag was caused by lower consumer spending and inflation, which halted revenue growth. The company attributed the loss to a number of factors, including decreased trading due to Brexit, geopolitical concerns, and the return to physical retail following COVID-19.
Because of the financial climate, Checkout.com reduced their internal estimate to $11 billion in December 2022. The payments company launched its identity verification and card issuing services in 2023.
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