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Stripe raises $100m at $22.5bn valuation

Stripe raises $100m at $22.5bn valuation

Stripe has secured another $100 million in funding, this time from Tiger Global Management, boosting the payments firm's valuation to $22.5 billion.

The follow-on funding, first reported by the Information, comes hot on the heels of a September $245 million Series E round which valued Stripe at $20 billion.

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.

A company spokesperson told CNBC: "Stripe is rapidly scaling internationally, as well as extending our platform into issuing, global fraud prevention, and physical stores with Stripe Terminal. The follow-on funding gives us more leverage in these strategic areas."

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