Checkout.com, a London-based global payments processor, is experiencing a significant departure as a key executive leaves amidst challenges with crypto clients. Céline Dufétel, President and COO of the company, is stepping down for personal reasons after a successful three-year tenure, as announced by founder Guillaume Pousaz on June 12. Taking her place is Jenny Hadlow, who has been leading the company’s global revenue operations since 2021.
Dufétel, who previously held top financial and operational roles at T Rowe Price, relocated to Checkout.com’s New York office in 2021. Her departure comes at a challenging time for the company, once touted as the hottest startup in Europe.
Checkout.com has been a key player in facilitating the movement, management, and optimization of funds for businesses. The company had collaborations with various crypto firms, including Crypto.com, MoonPay, Blockchain.com, Circle, and Strike.
In early 2022, Checkout.com received funding from US investment group Tiger Global and Singapore’s sovereign wealth fund GIC, boosting its valuation to $40 billion and making it Europe’s most valuable private technology business. However, by the end of the year, the company was forced to revise its valuation down to $11 billion, due to market downturns impacting the fintech industry.
Despite facing challenges, Checkout.com has downplayed its reliance on crypto, stating that cryptocurrency accounts for less than 4% of its total processing volume. The company has also terminated its contract with cryptocurrency exchange Binance in 2023 citing regulatory concerns, leading to potential legal action from Binance.
While Checkout.com acknowledges the impact of challenging macroeconomic conditions on its fintech and crypto clients, it remains focused on adapting to market changes and providing innovative payment solutions.