Online payment platform Stripe became Silicon Valley’s most valuable private company with its latest funding round.
The company announced on Sunday that it had raised $ 600 million Allianz X, Aksa, Bailey Gifford, Fidelity Management and Research Company, Sequoia Capital and Ireland’s National Treasury Management Agency (NTMA) raised its valuation to $ 95 billion.
As The Financial Times The noted, 11-year-old company has surpassed Facebook and Uber’s ratings before going public. In relation to other private startups, Striped leads the trading platform Robinhood, currently valued at $ 11.7 billion, on a large scale.
Stripe raised a round of $ 600 million last April, which valued the payments company at $ 35 billion.
The firm provides an easy way for businesses to integrate payment solutions into their websites – just like PayPal. Stripe has been praised for its developer-friendly tools and easy integration methods. A ton of top companies including Amazon, Github, Yelp, Spotify, and Uber use the company’s solutions for processing payments.
Striped saw a significant increase last year due to the increase in digital payments due to the COVID-19 epidemic. As FT said, business increased Over 200,000 European companies on the platform Since the onset of the epidemic, handling approximately 5,000 requests per second.
With this new round of funding, the company wants to invest more in its European operations and expand its global payment and treasury network. It is also investing in infrastructure that will help shape online payment solutions for the next decade.
Published March 15, 2021 – 08:18 UTC