Stripe raises $245m at $20bn valuation

Stripe raises $245m at $20bn valuation

Payments outfit Stripe is now worth $20 billion after closing a $245 million funding round led by Tiger Global Management.

DST Global and Sequoia along with existing investors Andreessen Horowitz, Kleiner Perkins, Khosla Ventures, General Catalyst, and Thrive Capital joined the round, which sees Stripe more than double its value since its last raise two years ago.

Founded in 2010 by Irish brothers Patrick and John Collison, Silicon-Valley-based Stripe has built itself up into a multi-billion dollar company off the back of making it easy for online sellers to accept card payments.

The firm has built up an impressive list of clients, recently adding Google and Uber to its stable of users ranging from one-man web stores to commerce giants.

Recently it has begun branching out, launching a point-of-sale payments terminal package targeted at online retailers making the jump to offline. It is also trialing the cash advance service that rivals PayPal and Square offer users.

The latest funding will be used to make hires for its engineering teams in the US and Dublin. A new hub in Singapore is also on the way.

With money in the bank, John Collison has told TechCrunch that he and his brother have no plans to follow the lead of European rival Adyen and take their company public.

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