Meta’s Meron Colbeci to Join European Payments Startup Checkout.com

UTC by Sanaa Sharma · 3 min read
Meta’s Meron Colbeci to Join European Payments Startup Checkout.com
Photo: Shutterstock

While Colbeci is planning to begin working for Checkout.com from his office in San Francisco, California, he intends to move out to Europe in due time.  

UK-based online payments start-up Checkout.com has roped in Meron Colbeci, the former senior executive at Meta as its chief product officer.

Since his engagement with Meta (formerly called Facebook) in 2018, Colbeci had was involved in helping design its Novi cryptocurrency wallet as the director of product management. Prior to his employment at Checkout.com, he was working with the division’s outgoing chief David Marcus as the head of consumer product management.

Marcus disclosed Colbeci’s resignation from Meta’s blockchain last month. Meron Colbeci, in an email to CNBC, acknowledged the vision of David Marcus in the field of financial services. Calling Marcus an “icon”, Colbeci noted that his time in Meta was a learning experience and that Checkout.com’s idea for the future of payments enticed him to change directions. While Meta’s disclosure of Colbeci’s exit was internal, Colbeci started working for Checkout.com this week.

Colbeci claimed that he discovered Checkout.com when Novi was a user of the payment processor platform. He was fascinated by its aim to create customer-first technologies that allow democratized availability of the digital ecosystem. As the company is also dabbling into the digital currencies waters, Colbeci is believed to have seen an underlying potential in future ventures with the firm.

While Colbeci is planning to begin working for Checkout.com from his office in San Francisco, California, he also intends to move out to Europe in due time.

Checkout.com was established in 2012 by Guillaume Pousaz, a Swizz entrepreneur who dropped out of college. The company helps in providing a convenient digital payments experience to many organizations (like Sony).

The company enjoys its position as one of Europe’s largest privately-held fintech corporations and is estimated at around $15 Billion. The company has been able to raise $830 Million in funding rounds from its London office.

Checkout.com has been aggressively recruiting people since the beginning of this year. At the start of 2021, the company had around 1000 employees, while it presently enjoys a community of 1600 employees. It has recruited people from various fields in tech, finance, and marketing.

The company is not limited to Europe and has been doing active business in Asia and the Middle East while developing plans to expand in the United States.

According to a report by the venture capital firm Atomico, start-ups in Europe have become a centerpiece of attraction for investors in the region. This year, the start-up fundings were estimated at a whopping $21  billion. The current figure is three times the capital raised in 2020, which was somewhere around $41 billion. For the first time in the history of European startups funding, the total aggregate has crossed the $100 billion mark in a single year.

Business News, FinTech News, News, Technology News
Sanaa Sharma
Author Sanaa Sharma

Sanaa is a chemistry major and a Blockchain enthusiast. As a science student, her research skills enable her to understand the intricacies of Financial Markets. She believes that Blockchain technology has the potential to revolutionize every industry in the world.

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