Stripe

John Collison, President, and Co-founder, Stripe

San Francisco-headquartered PayTech firm Stripe has raked in another $250 million in the latest funding round post its pre-money valuation of $35 billion. The investment has come from investors including General Catalyst, Sequoia, and Andreessen Horowitz, among others.

The company plans to use the fresh capital to accelerate international expansion, growing its product suite, and extending its enterprise capabilities.

Stripe recently launched in eight countries and plans on expanding to more in the coming months, which will bring its total reach to 40 countries, covering 70% of the global economy, according to a statement.

The payment firm has built a programmable infrastructure for global money movement named Global Payments and Treasury Network (GPTN). Earlier this month, the PayTech announced new products including Stripe Capital, Stripe Corporate Card, instant payouts, etc.

“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.” John Collison, President and Co-founder of the payment company said.

Stripe is a technology company that builds economic infrastructure for the internet. It combines a payments platform with applications that put revenue data as the primary focus in business operations.

The company aims to grow the GDP of the internet, making it easy for companies everywhere to start, run and scale their business, the statement added.

Avatar
by Sheeba Bhagat Dawar
Market Analyst at IBS Intelligence
imp-loader
preloader