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Stripe cofounders Patrick
and Jon Collison.
Stripe
Stripe, a US fintech firm founded by two Irish brothers, has
raised $150 million (£121 million) in a funding round that values
the company at over $9 billion (£7 billion).
The investment round, first reported by The Wall Street Journal, was led by CapitalG
and General Catalyst, and also included participation from
existing investors including Sequoia Capital. Facebook investor
Peter Thiel and Tesla founder Elon Musk have also invested in
Stripe in previous rounds.
Founded in 2011, Stripe's payments platform has become
increasingly popular with startups, with businesses like
Deliveroo and Kickstarter using the service. But large companies
are also moving over to Stripe. In the past year, companies
including SAP, Adidas, Slack, Medium, the Daily Mail, and both
presidential campaigns have become Stripe customers.
The round makes Stripe ,which has users in 110 countries, one of
biggest new technology companies in the US and values the
business at $4 billion (£3 billion) higher than its most recent
valuation, which was $5 billion (£4 billion) in the summer of
2015.
A source close to the company, whose software allows businesses
to accept and track digital payments, said Stripe intends to use
the money to build more products, invest in or acquire other
companies, and expand into new markets. It also intends to expand
the platform into areas such as company incorporation and fraud
prevention.
Stripe was not immediately available for comment.
This is a developing story.
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