US-based fintech company Stripe, a developer-oriented commerce company helping small and large companies accept web and mobile payments, raised US$ 600 million, at a valuation of US$ 95 billion on 15 March 2021.
Investors: The funding round was led by two major insurance players – Allianz, via its Allianz X fund, and AXA. Other participants include Baillie Gifford, Fidelity Management & Research Company, Sequoia Capital Ireland’s National Treasury Management Agency (NTMA).
Purpose of the funding: The funds will be utilized by Stripe to expand its business in Europe, and level up its global payments and treasury network.
About Stripe
Founded in 2010 by brothers John Collison and Patrick Collison, Stripe combines a payments platform with applications to put revenue data at the heart of business operations. Stripe was one of the first companies that saw the importance and need of building a simple way for developers to integrate payments into any app or site using a few lines of code. The company has built out a bigger platform now, becoming a one-stop-shop for helping businesses run all the commercial aspects of their operations like managing cash flow, incorporation, managing fraud etc.
Stripe is operating in almost 42 companies. Some of its customers in Europe include big names like Axel Springer, Jaguar Land Rover, Maersk, Metro, Mountain Warehouse and Waitrose and also Deliveroo (UK), Doctolib (France), ManoMano (France), N26 (Germany), UiPath (Romania), Glofox (Ireland), Klarna (Sweden) and Vinted (Lithuania).
Stripe Solutions:
· Industry Leading Documentation
· Support for Developer Community
· Thriving partner ecosystem
What the founders have to say: “We’re investing a ton more in Europe this year, particularly in Ireland. Whether in fintech, mobility, retail or SaaS, the growth opportunity for the European digital economy is immense.” — John Collison, President and co-founder of Stripe.
What the Investors have to say: “Stripe is an accelerator of global economic growth and a leader in sustainable finance. We are convinced that, despite making great progress over the last 10 years, most of Stripe’s success is yet to come. We’re delighted to back Ireland’s and Europe’s most prominent success story, and, in doing so, to help millions of other ambitious companies become more competitive in the global economy.” — Conor O’Kelly, CEO of NTMA.
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