On the heels of the report strip While the fund was still raising more money, the paying company has now confirmed the details. The company closes for $ 600 million at a valuation of $ 95 billion.
Stripe said it would use the funds to expand its business in Europe, focusing on its European headquarters as well as beefing up its global payments and treasury network.
“We are investing a ton more in Europe this year, especially in Ireland,” said John Collison, Strike’s president and co-founder, in a statement. “Whether in fintech, mobility, retail or SaaS, the growth opportunity for the European digital economy is immense.”
Stripe said the financing includes support from two major insurance players. Allianz, through its Allianz X Fund, and the AXA Round, is also an investor in Beilie Gifford, Fidelity Management and Research Company, Sequia Capital, and the National Mercury Management Agency (NTMA) of Ireland, the founders’ home country.
The insurance angle can indicate in which direction the company wants to move. After all, fintech and insurance are closely aligned.
“Stripe is an accelerator of global economic development and a leader in sustainable finance. We are confident that despite making great progress in the last 10 years, most of Stripe’s success has not yet been achieved. “We are happy to get Ireland’s and Europe’s foremost success story back, and in doing so, to help millions of other aspiring companies to become more competitive in the global economy.”
The big round, increasing valuation, and increasing cap table will inevitably lead to questions about where the company stands in relation to its next steps, and whether it will include a public listing. Stripe has kept its cards for a long time when it comes to user numbers, revenue, and profit and those details are not being revealed once again with the news today, nor has it made any comment on the IPO plans .
In particular, the news is confirmed today at a lower valuation than the valuation stripe Allegedly Trade on the secondary market, which was $ 115 billion; And the round that closed at a valuation of $ 95 billion was also rumored to be worth more than $ 100 billion.
It is not clear whether those numbers were ever accurate, or if Kovid’s pricing would have an impact, or if European investors simply struck a hard bargain.
Also pays attention to growing in Europe Peter Baron Recruitment – Former EMEA VP of Communications for Google and a former journalist – in some contexts.
Founded in 2010 by John and his brother Patrick Collison (CEO), Striped Commerce is a wave of startups that saw the value of creating a simple way for developers to integrate payments through certain lines to any app or site . Code, at a time when digital and especially online payments were starting to stop.
Behind that code, the company had worked hard to integrate all the different and complex pieces needed to perform payment work in all countries and borders. Through the years, the company has built a large platform all around, a suite of services to position it as a one-stop shop, not only to help businesses run all commercial aspects of their operations, Including incorporation, fraud management, cashflow management and more.
Within that, Stripe has built a decent footprint in Europe, accounting for 31 of the 42 countries in the region where it has customers today. Although Stripe may have provided a paid infrastructure for startups (and especially small, new startups) to their start and early traction, today that list also includes very big names. In Europe, customers include Axel Springer, Jaguar Land Rover, Maersk, Metro, Mountain Warehouse and Waitrose, Deliveroo (UK), DocTolib (France), Glofox (Ireland), Karlna (Sweden), Manomno (France), N26 (Germany ) Are included. ), Uyapath (Romania) and Winted (Lithuania).
With heavy competition in payments and adjacent services, there is a huge opportunity for greater growth. Stripe says that in the wake of Kovid and the number of people shopping through the web and apps rather than people has increased, currently some 14% of commerce happens online, a big shift assuming that a year ago it was almost 10%.