Stripe raises $600 million, valuing company at $95 billion
Digital payments company Stripe has raised $600 million in its latest round of funding, valuing it at $95 billion.
Stripe has raised $600 million in its latest funding round, giving the company a $95 billion valuation, the online payments processing company said in a statement.
The company said it would use the capital to invest in its European operations, in particular its headquarters in Dublin, Ireland to support surging demand and expand its global payments and treasury network.
“We're investing a ton more in Europe this year, particularly in Ireland,” John Collison, president and co-founder, said in the statement. “The growth opportunity for the European digital economy is immense.“
Primary investors in Stripe include the digital investment unit of Allianz Group, Axa SA, Baillie Gifford, Fidelity Management & Research Co., Sequoia Capital, and Ireland's National Treasury Management Agency.
Ireland's deputy prime minister, Leo Varadkar, said in a statement the partnership between the Irish state and Stripe would create over 1,000 jobs in five years and boost Ireland's economy.
A senior executive at Stripe told Reuters in December that the company had plans to expand across Asia, including in Southeast Asia, Japan, China and India.
Of the 42 countries in which Stripe is active, the company said 31 are in Europe.
“While Stripe already processes hundreds of billions of dollars per year for millions of businesses worldwide, the opportunity ahead is much larger ... than it was when the company was started 10 years ago,” said Dhivya Suryadevara, Stripe's chief financial officer.
(with inputs from Reuters)