The payments company is worth $ 95 billion after a new round of stripped funds, making it the most valuable start-up in the United States.
The San Francisco and Dublin-based company said on Sunday that it had raised $ 600 million in new funding from investors including Sequoia Capital, Fidelity Management and Ireland’s National Treasury Management Agency. The investment is a final valuation of approximately three billion stripes at $ 35 billion.
Funding increases during the adoption of digital equipment and services in the epidemic, as people live, work and shop online. Who has There is a wave of investment in, and eye-popping evaluation But, a frenzy of tech start-ups, as well as highly valued initial public offerings. Investors have assumed that the recently hired $ 123 billion publicly-leased AirBnB Homebank start-up. Children’s gaming start-up Robox saw that when its valuation was $ 45 billion Went public last week.
Founded in 2010, Stripe makes software that enables businesses to process online payments. As more people turned to online shopping in the epidemic, Stripe’s offerings have been in demand. It is one of the largest among a segment of fast-growing, highly valued financial technology companies.
Dhari Suryadevara, Stripe’s chief financial officer, said in an interview that Stripe is now paying hundreds of billions of dollars every year in 42 countries. “We are in a hyper-growth industry and within that the company itself is experiencing hyper-growth,” she said. Ms. Suryadevara refused to share specifics on Stripe’s revenue or growth.
Stripe is considered a candidate to go public. Another financial technology start-up Coinbase filed to go public later this month in a transaction that may have some expectations of $ 100 billion. Stock trading app Robinhood has also seen its valuation in the epidemic.
Stripe said in an announcement that he planned to use the funds to expand into Europe, including his office in Dublin. The company’s sibling founders, John Collison, 30, and Patrick, aged 32, were born in Ireland.
Strip president John Collison said in a statement that the company would focus heavily on Europe this year. “The growth opportunity is huge for the European digital economy,” he said.
The company, which started working with start-ups and small businesses, will also invest in creating more tools to help large businesses pay. It counts 50 businesses that process more than $ 1 billion per year as customers.