Online payment processing company Stripe has raised $600 million in the latest funding round at a valuation of $95 billion. Investors in its latest funding round include Allianz X, Axa, Baillie Gifford, Fidelity Management & Research Company, Sequoia Capital and Ireland’s National Treasury Management Agency (NTMA).
Stripe shared that the gathered funding aims to support its European operations, and its Dublin headquarters in particular and answer to the growing demand from enterprise heavyweights across Europe, and expand its Global Payments and Treasury Network.
The company also noted that its enterprise revenue has shown significant growth in the last few years. Former Governor of the Bank of England (BOE) and the Bank of Canada (BOC), Mark Carney, recently joined Stripe’s Board of Directors.
John Collison, President and Co-Founder of Stripe, commented:
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.
Stripe also plans to expand its Global Payments and Treasury Network with the raised capital. The company announced that it will soon offer services to five more countries including Brazil, India, Indonesia, Thailand and the UAE.
John Collison, President and co-founder of Stripe said:
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.
Timothy Chiodo Head of Payments and Fintech Research at Crédit Suisse noted:
Most people underappreciate Stripe’s global scale and leading ability to serve the most complex enterprise customers. Stripe’s global scale and market reach continues to expand and they are a now a leader (and gaining meaningful share) in the enterprise segment.
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