Stripe Raises $250M in Funding At Pre-Money Valuation of $35 Billion

Stripe raises $250M for global expansion new products to bring valuation to $35B

Stripe raises $250M for global expansion new products to bring valuation to $35B

Co-founded in 2011 by Patrick Collison, CEO, and John Collison, President, Stripe combines a payments platform with applications that put revenue data at the heart of business operations.

Noting that five out of six new internet users come online from outside of North America and Western Europe, the unicorn is determined to cash in.

"We're investing now to build the infrastructure that'll power internet commerce in 2030 and beyond. If we get it right, we can help the internet fulfil its potential as an engine for global economic progress".

Stripe is part of a broader trend of companies waiting longer to go public, in part because of the ever-increasing pools of funds that are available from venture capital investors. This will bring the total to 40 countries covering 70% of the global economy, with many more launches planned for 2020.

"Stripe processes hundreds of billions of dollars a year for millions of businesses worldwide, including now Wayfair, Twilio, GitHub, and The RealReal".

The Collison brothers, John and Patrick, sold their first company when they were 19 and 17 and began Stripe two years later after dropping out of MIT and Harvard and joining the Y Combinator accelerator for early startups.

With this latest funding round of $250 million, Patrick (CEO) and John (president) now run the third most valuable startup in the USA, ahead of giants like Airbnb and Palantir. The company has also been expanding around the globe, adding eight countries this month. And it is building a roster of products and services on top of that foundation including Connect, Billing, Terminal, and Radar.

Sequoia Capital, Andreessen Horowitz and General Catalyst were some of the participants in the latest funding round.

In recent weeks, Stripe has pushed from its roots in payments with the introduction of Stripe Capital, which offers loans to Stripe customers, and a Stripe corporate credit card.

Going forward, Stripe will continue to invest heavily in the GPTN as well as its suite of additional software and services to help our users around the world grow their own companies faster.

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