Stripe valued at $ 95 billion in a $ 600 million funding round

John Collison, co-founder of Stripe.

David A. Grogan | CNBC

Online payments technology provider Stripe announced Sunday that it has raised a new round of $ 600 million funding that values ​​the company at $ 95 billion, nearly triple its last reported valuation of $ 36 billion in April. 2020, based on PitchBook data.

Stripe, which makes software that allows companies to accept payments over the Internet, intends to invest the new capital in its European operations, the company said in a statement. Thirty-one of the 42 countries in which Stripe operates are located in Europe, and President and Co-founder John Collison singled out Ireland, where the company is based, as a particular area of ​​focus.

Founded more than a decade ago, today Stripe is by far the most valuable private fintech company, with Robinhood valuing approximately $ 11.7 billion after investors wrote the company a check for $ 3 billion. in the midst of this year’s GameStop chaos.

Stripe has seen spectacular growth during the pandemic, as its revenue is largely related to the growth of online shopping. In its previous funding round last April, Stripe early highlighted the Covid-19 outbreak as “pushing the economy online” and said that “several years of migration from offline to online are being compressed into several weeks.”

“We are investing in the infrastructure that will drive Internet commerce in 2030 and beyond,” wrote CFO Dhivya Suryadevara, who joined the company in August after leaving her position as CFO of General Motors. “The pandemic taught us many things about society, including how much you can achieve (and pay for) online, but the Internet is not yet the engine of global economic progress that it could be.”

In December, the company launched banking services through partnerships with Goldman Sachs, Citigroup, Barclays, and Evolve Bank & Trust.

But despite its growing growth and valuation, the company has remained quiet about the prospect of a Wall Street debut, as John Collison told CNBC last year that the company has “no plans” to go public immediately. .

The main investors in the new H series round include Allianz, Fidelity, Sequoia Capital and the National Treasury Management Agency of Ireland (NTMA). Past investors include Tesla CEO Elon Musk, Peter Thiel, and Alphabet’s late-stage investment arm Capital G, among others.

Earlier this year, Stripe invested $ 102 million in a Series B round for Fast, a smaller online payment company based in San Francisco. Stripe, which also led the startup’s Series A, is the underlying payment method for Fast’s payment product.

Stripe is a six-time CNBC Disruptor 50 company and topped the list in 2020.

Correction: The first paragraph of this story has been updated to reflect that Stripe’s latest valuation is $ 95 billion.


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