London’s biggest tech firm, Checkout.com has seen its internal value plunge to $11 billion (£9 billion) as dwindling consumer sentiment weighs on the fortunes of the fintech sector.
The company told employees it had slashed its internal valuation to “reflect current macroeconomic conditions”, according to reports in the Financial Times. The Shoreditch-based business had been valued at as much as $40 billion in January following a $1 billion investor funding round.
