Guillaume Pousaz

An action brought by fintech company Uswipe against Checkout.com renewed attention on a former customer, Renderwison, publicly linked through various indicators to international dating services and the adult industry ecosystem. Uswipe seeks access to accounts to establish whether commissions may be due.

State of the evidence

Allegations in civil litigation reported by the specialist press

Legal status — source text

Civil litigation; no personal criminal proceedings identified

Attribution

Pousaz is connected as founder and executive of Checkout.com; the allegations concern the company's commercial relationship

Following its $40 billion valuation in early 2022, Checkout.com substantially reduced its internal valuation, cut staff and experienced several senior executive departures. The Financial Times also reported that French regulator ACPR had raised concerns about compliance staffing during this period of rapid growth.

State of the evidence

Economic developments and regulatory concerns reported

Legal status — source text

No personal criminal sanction identified

Attribution

Governance responsibility as founder and CEO; the events concern the company

Checkout.com grew by serving certain sectors considered riskier by competitors, with media coverage of past relationships with businesses such as OnlyFans and Pornhub. This positioning resurfaced in debate about the fintech company's risk appetite and reputation.

State of the evidence

Historical commercial relationships reported by the specialist press

Legal status — source text

No personal criminal proceedings identified

Attribution

Strategic responsibility as founder and CEO

After a funding round valuing Checkout.com at $40 billion in early 2022, the company reduced its internal valuation to approximately $11 billion at the end of 2022 and around $9 billion in 2023.

State of the evidence

Valuations and internal adjustments documented

Legal status — source text

No judicial proceedings

Attribution

Governance responsibility as CEO, with no illegality alleged

In August 2023, Checkout.com terminated its relationship with Binance, then a very significant client, citing regulatory actions and concerns about anti-money-laundering controls, sanctions and compliance.

State of the evidence

Termination letters and public responses documented

Legal status — source text

No criminal proceedings against Pousaz; Binance said it was considering legal action

Attribution

Pousaz was responsible for the decision to end a major commercial relationship

Checkout.com's rapid growth had been driven in part by transaction volumes from cryptocurrency clients. The market downturn in 2022, followed by the termination of the Binance relationship in 2023, turned this source of growth into a major financial and reputational risk.

State of the evidence

Exposure to cryptocurrency clients and the market downturn documented

Legal status — source text

No personal judicial proceedings

Attribution

Strategic responsibility as CEO

Checkout.com reduced its workforce by approximately 5%, or around 100 positions, following its period of exceptionally rapid growth.

State of the evidence

Workforce reduction documented

Legal status — source text

No personal judicial proceedings identified

Attribution

Governance responsibility as CEO