FinTech Startup Stripe Sees 56 Percent Increase in Valuation

By StartUp City | Thursday, October 10, 2019

This brings the company's presence to a total of 40 countries, making up 70 percent of the global economy, with many more launches planned for 2020. The latest valuation at USD 35 billion, a 56 percent increase from the previous year's assessment of USD 22.5 billion, places Stripe in the same league as home rental giant Airbnb Inc.

FREMONT, CA: San Francisco-based FinTech startup, Stripe, raised USD 250 million in additional funding round and has been valued at a large USD 35 billion. The funding round was led by General Catalyst, Sequoia, and Andreessen Horowitz. The company will use the additional funding towards accelerating international expansion, growing its product suite, and extending its enterprise capabilities. 

The company has recently launched in eight additional countries and intends to expand to more in the upcoming months. This brings the company's presence to a total of 40 countries, making up 70 percent of the global economy, with many more launches planned for 2020. The latest valuation at USD 35 billion, a 56 percent increase from the previous year's assessment of USD 22.5 billion, places Stripe in the same league as home rental giant Airbnb Inc.

With five out of six internet users coming online from areas outside of North America and Western Europe, the company continues to invest heavily in expanding to newer markets. “We’re investing now to build the infrastructure that’ll power internet commerce in 2030 -- and beyond,” John Collison, president, and co-founder of Stripe, said. "If we get it right, we can help the internet fulfill its potential as an engine for global economic progress."

Earlier in September, the company announced its new line of products, which included Stripe Capital, to give business more straightforward access to funds; Stripe Corporate Card, to manage their corporate spending; instant payouts to all U.S. Stripe accounts, and more. “Even now, in 2019, less than eight percent of commerce happens online. 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 fulfill its potential as an engine for global economic progress,” said John.

Stripe has also successfully built a programmable infrastructure for global money movement, the Global Payments and Treasury Network (GPTN), and a growing roster of products on top of this foundation, including Connect, Billing, Terminal, and Radar. The company processes hundreds of millions of dollars for millions of companies worldwide, including Wayfair, Twilio, GitHub, and The RealReal.

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