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Fintech Startup Stripe Reaches $35 Billion Valuation

Matthew Lam   Sep 20, 2019 12:00 1 Min Read


 

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This article is contributed by our content partner, Nexchange group.

Who said fundraising was hard? Well, definitely not Stripe.

According to CNBC, San Francisco-based payments startup Stripe has just raised another $250 million in funding, bringing its valuation from $22.5 billion to $35 billion. Sequoia Capital and Andreessen Horowitz General Catalyst were among the investors that participated in the round. Previous investors include Peter Thiel, Elon Musk, and Google’s venture arm, Capital G.

The cash injection will reportedly be used to help the company scale across the globe and develop new products. The startup, which co-founder John Collison says is “still very much in the early stage” of expansion, recently opened in eight other countries and launched two new products: a lending service called Stripe Capital and a corporate credit card named the Stripe Card.

Collison, when asked about the company’s IPO plans, said that Stripe has “no plans” to go public right away. He told CNBC that they’re “very happy as a private company,” adding that they’re “quite early in this opportunity.”

Image via Stephen McCarthy at RISE


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